Page 12 - AsiaElec Week 45

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project with government involvement.
“The rate of the growth in coal
consumption may slow down in Vietnam, but
the overall volume will not dip,” he said.
Southeast Asia’s thermal coal imports are
expected to rise 29% to 128mn mt in 2020
from realised imports of 99mn mt in 2019,
according to S&P Global Platts Analytics.
Imports to Vietnam are expected to comprise
55mn mt of the total, up 22% from 45mn mt
in 2019, and increase further to 55.2mn mt in
2021, it added.
Vietnam received 45% of Southeast Asia’s
thermal coal imports in 2019 and with more
coal-fired power plant projects in the pipeline, multiple bids, and MGen plans to participate SOL AR
its low domestic coal production will continue through A1E while Semirara’s SRGPC will
to make it reliant on imports, predominately submit is own bid. Chinese solar
from Indonesia and Australia, market sources Meralco earlier signed a power supply
said. agreement with SRPGC for the supply of up manufacturers prosper from
“Power demand in Vietnam in September to 400 MW of capacity. The Supreme Court,
at nearly 30 GW was up over 7% from a year however, ruled that energy companies should Biden win
ago. Platts Analytics expects a continued undergo a competitive selection process for
recovery in coal-fired power generation in the PSA, thereby nullifying the agreement. Shares in the Chinese companies that
Vietnam, as well as Southeast Asia, but we do The SRPGC coal project is one of the dominate production of solar panels rose after
not expect a full recovery in the region until indicative power projects identified by the Joe Biden’s victory increased the likelihood
the second half of 2021,” said Matthew Boyle, Department of Energy to support rising that the world’s top economy will accelerate its
lead coal analyst from Platts Analytics. demand. move toward clean energy, Blooomberg.
Data from the Energy Department During the campaign, Biden said he’s
showed that the project was supposed to aiming to eliminate carbon emissions from
start commercial operations by 2025, with the U.S. power sector by 2035. Doing so will
COAL the financial close dependent on the CSP of require a ramp-up in new solar installations,
Meralco in the last quarter. which should lift global demand and support
Meralco, Semirara cancel Singson said the decision to terminate the the sector, said Dennis Ip, an analyst with
Meralco PowerGen president Rogelio
Daiwa Capital Markets in Hong Kong.
700-MW coal plant venture agreement was also made in the wake of the solar installations were just stable as the
“If you look over the past five years, U.S.
moratorium for new greenfield coal power
Semirara Mining and Power Corp., plants. Trump administration focused on fossil fuels,”
Meralco Powergen Corp. and St. Raphael “That is [moratorium] also included, due Ip said in a phone interview. “A Biden victory
Power Generation Corp. terminated their to our plan to transition to RE [renewable will lead to a direct increase.”
joint venture agreement to construct a energy] resources,” Singson said. Daiwa forecasts U.S. annual installations
700-megawatt coal-fired power plant in The project’s commercial operation rising from about 12 gigawatts to 26 gigawatts
Calaca, Batangas. would be anchored on the completion of over the next five years, which would push
SMPC said in a disclosure to the stock the National Grid Corp. of the Philippines’ global demand growth to almost 20% a year,
exchange on Tuesday the three parties agreed Calaca-Dasmarinas transmission line compared with 17.5% if U.S. policy remained
to terminate the joint venture agreement expansion project. unchanged.
dated April 27, 2016 over the construction, The proposed power plant is the third Longi Green Energy Technology Co.,
ownership and operation of a 700-MW coal phase of the planned expansion of the Calaca the world’s largest solar company by market
power plant effective Nov. 9, 2020. coal-fired plant facility in Batangas. capitalisation, rose 1.2% in Shanghai on
“SMPC shall reacquire all the equity Energy Secretary Alfonso Cusi earlier Monday. Polysilicon maker GCL-Poly Energy
shareholdings of MGen in SRPGC. SRPGC declared a moratorium on endorsements for Holdings Ltd. added 6.6% in Hong Kong.
was originally a wholly-owned subsidiary greenfield or new coal power plants following The gains also extended to wind power, with
of SMPC and by virtue of the JVA, the the periodic assessment of the country’s turbine manufacturer Xinjiang Goldwind
parties, SMPC and MGen have 50:50 equity energy requirements. Science & Technology Co. climbing 7.3%.
ownership over SRPGC,” SMPC said. Cusi said in a statement the Department of
SMPC is owned by the Consunji Group Energy’s most recent assessment revealed the
while Meralco PowerGen is the power need for the country to shift to a more flexible Australia invests $9.6mn
generation arm of power retailer Manila power supply mix.
Electric Co. DOE spokesman Felix William China’s Sunman
Officials said the withdrawal of the Fuentebella said coal projects listed under the
companies from the planned joint venture was department’s committed power projects were Consumers could potentially see their power
due to their separate participation in Meralco’s not included in the moratorium because they bills drop within years if Australia’s latest bet
competitive selection process for power already secured endorsements. on solar energy pays off.
supply. CSP rules prohibit involvement in With Australia-China relations showing no

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