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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding for such plants since it began operations in 2016, Jin Liqun, president of the bank, said on Wednesday.
The bank has never funded any coal-fired projects, despite provisions for such financing, Jin said at the virtual 2021 Aspen Security Forum.
He was referring to AIIB’s 2017 Energy Sector Strategy, in which it pledged to “reduce the carbon intensity of energy supply” with “a sizable reduction in coal investments”. However, the strategy stated that the bank will consider financing coal-fired power plants if they replace existing ones with less efficient capacity or if no alternative exists.
“So next year, we may review or upgrade the energy strategy. My view is in the … updated strategy, coal definitely would be out,” he said, adding that the bank has been “more prudent” than what is stipulated in the energy strategy.
The bank is focused on developing Asia but has members from all over the world. It has a stated mission of building a green “Infrastructure for Tomorrow”, with sustainability, innovation and connectivity at its core.
Jin has led the Beijing-headquartered bank since it was founded in 2015 and started his second five-year term as president on Jan 16.
An earlier comment of Jin’s that the bank will not finance any coal project or other project “functionally related to coal” drew widespread attention as Asia’s coal reserves represent 38 percent of world’s total.
At the forum, Jin gave an example of AIIB turning down a power transmission project of a developing country that involved a coal-fired power plant, even though that plant was built with clean technology.
“We still turned it down, because the transmission line was to be linked to a coal-fired power plant,” he said.
Jin said the bank is committed to having 50 percent of financing directed to climate investments by 2025, up from about 40 percent now. The financing will go to clean technology, energy efficiency and other areas that help cut carbon emissions.
“Infrastructure investment in today’s world should be done in a way very much different from what it used to be; we have to do it in an environmentally benign way. … So we focus very much on renewables,” he said.
‘Integrated approach’
AIIB has opted to take an “integrated approach” to climate mitigation and adaptation, investing in areas like mass-transit systems to reduce the number of vehicles on the road, he added.
Since the outbreak of the COVID-19 pandemic, AIIB has focused on lending and budget support to countries asking for help. “In 2020, we invested $7 billion in dealing with COVID-19 to help these countries get back on their feet as soon as possible and get regular infrastructure projects moving forward,” he said.
Jin said the pandemic has accentuated the importance of social infrastructure. AIIB will still allocate a “suitable” proportion of resources to build up the healthcare systems of member countries.
The bank has approved at least $22 billion in loans for 108 projects over the past five years, during which its number of members expanded from 57 to 103, according to the AIIB’s 2020 annual report.
Source: China Daily
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Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
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