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Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
 Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in certain provinces, Fitch Ratings says. The extent of the impact of this new policy announced by China's National Development and Reform Commission on 27 May 2016 will depend on execution at the provincial level.
According to Fitch, the new policy comes as solar and wind power producers frequently face curtailment, where power grids do not purchase all the energy generated. The wastage arises as the government has not strictly enforced the Renewable Energy Law, which requires grid companies to purchase solar and wind power generated first before buying from other sources. In the past, delayed grid connectivity and higher on-grid priority for power/heating co-generation during the winter season in certain regions contributed to solar and wind power curtailment. Starting from 2015, renewable energy faced additional challenges from slower power demand growth due to the weaker economic growth, and the significant capacity additions by thermal and renewable power producers.
Fitch further noted that, the under the new policy, the NDRC will guarantee that grid companies purchase solar and wind power, based on a minimum utilisation hour for such projects, in 11 provinces where producers face severe curtailment. The 11 provinces are: Inner Mongolia, Xinjiang, Gansu, Jilin, Heilongjiang, Ningxia, Liaoning, Qinghai, parts of Hebei, Shanxi and Shaanxi. The curtailment ratios in these provinces were higher than China's average solar and wind power curtailment ratios of 14% and 26%, respectively, in 1Q16. These provinces represented 69% of China's total wind power generation and 70% of total solar capacity in 2015.
The NDRC's guarantee of a minimum utilisation hour for solar and wind power, which is set to allow these generators a reasonable return, will provide some comfort to renewable energy investors in these provinces, who have seen the utilisation hours for wind and solar power in these provinces decline in the past two years. The NDRC will guarantee minimum utilisation hour of between 1,800 and 2,000 hours for wind power and between 1,300 and 1,500 hours for solar power in these regions. The average minimum guarantee is about 17% higher than the actual utilisation in 2015, although around 8% lower than that in 2013.
The new NDRC policy also bans new wind and solar power projects in the regions where the utilisation rate is below the minimum amount under the guaranteed purchase policy. There are still 33GW of wind power projects in the pipeline in these 11 provinces, and those that have not started construction may be suspended.
We believe the effectiveness of the guarantee in provinces such as Gansu, Jilin and Heilongjiang will be most dependent on the execution; especially because the policy has not specified who will bear the cost of any non-compliance with the minimum purchase guarantee. These regions' actual utilisation hours in 2015 were 19%-34% below the announced guarantee. The expected growth in power demand in these regions is also weak and export transmission capacity is currently limited. Thermal power (mostly co-gen units) is also running at low utilisation, which means there is limited room to allocate more on-grid capacity to renewable energy without further hurting the thermal power producers.
The NDRC's guarantee does not affect the on-grid tariff subsidies currently in place for solar and wind power. Beyond the minimum purchase guaranteed by NDRC, solar and wind power generators can sell any excess power generated through a market power sales programme. The generators will receive the proceeds from the power sales and any applicable subsidies for solar or wind power, Fitch Ratings says.
The impact of the new policy on the thermal-power sector will be minimal, as wind and solar together account for only 4% of national power generation. We estimate that thermal-power utilisation would only have been less than 1% lower if the off-take from solar and wind projects were at the guaranteed requirement in 2015. However, we expect utilisation levels for coal-fired generation to continue to fall due to the increasing over-capacity in the sector, Fitch Ratings Concluded.
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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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Showing 2426 to 2430 news of total 6871 |
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- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Economic Council, Georgia
- India Bulls Power Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
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