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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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- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
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