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Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
 China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 – rather than capacity installations, should add flexibility in adding installations and alleviate curtailment risk, says Fitch Ratings.
China targets for renewables to supply 33% to national power consumption by 2025, and for non-hydro renewables to contribute 18%; the two consumption quota targets are 4.3pp and 3.6pp higher than 2021 levels, respectively. Correspondingly, China expects to increase annual renewable generation to 3,300 terawatt hours by 2025, implying a CAGR of 7%-8% in the next four years.
The 14th five-year plan does not specify a target for renewable power capacity, unlike previous plans. This should allow for more flexibility on annual capacity additions in 2022-2025, which can instead be driven by power demand growth and the power system’s ability to consume the newly added installations.
Such flexibility in capacity installations should also alleviate curtailment risk from oversupply, supported by the fast development of storage systems, combined with the well-planned locations of new projects, including at large renewable bases that will contribute the majority of new installations under the plan. Most renewable bases will be located at load centres, such as Hebei and Shandong, or in desert and deserted areas, including those in Inner Mongolia and Gansu, where land is cheaper, renewable resources are abundant and UHV lines – which transmit power intra-provincially to specific load centres – are established or will become available.
New projects with grid offtakes can sell pre-agreed volume at fixed prices, but the amount of renewable power generated in excess of the offtake volume and projects without grid offtakes will be traded in the market. The 14th five-year plan encourages renewable generation companies and end-users to enter long-term contracts. Trading premiums are likely to occur in coastal regions, where renewable resources are limited, but demand for green energy is increasingly robust, while renewable power produced in provinces with excess supply may be traded at a discount.
Fitch Ratings, China also expects stronger enforceability of the 14th five year plan, which was released by the National Development and Reform Commission (NDRC), China’s central regulator, jointly with eight central-government bodies, including the Ministry of Finance, Ministry of Natural Resources, Ministry of Housing and Rural-Urban Development and Ministry of Ecology and Environment, which are responsible for approving and facilitating the development of renewable projects or monitoring the consumption levels. Previous plans were normally introduced by NDRC alone.
Fitch further expects China to maintain strong renewable installation growth, despite the lack of capacity targets specified for end-2025. We estimate that China is likely to boost annual wind and solar power capacity by 100-110 gigawatts (GW) on average, assuming national power demand grows at a CAGR of 4.7% in the next four years. Our estimated capacity additions are comparable with the 103GW installed in 2021, but below the 2020 peak of 120GW. However, provincial and corporate level end-2025 targets, if added, suggest faster capacity additions. We thus expect capex and leverage at most state-owned power generation companies to stay high over the medium term.
For the first time, the five-year plan sets goals on the usage of non-power renewable energy, such as heating by solar, geothermal and biomass. This may encourage favourable policies on integrated energy and support the earnings of city-gas operators and national oil companies, which are becoming active in developing non-carbon energy businesses.
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Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- Singapore Mercantile Exchange
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
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