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according to S&P Global Platts Analytics. undergo a competitive selection process for SOL AR
Imports to Vietnam are expected to comprise the PSA, thereby nullifying the agreement.
55mn mt of the total, up 22% from 45mn mt The SRPGC coal project is one of the Chinese solar
in 2019, and increase further to 55.2mn mt in indicative power projects identified by the
2021, it added. Department of Energy to support rising manufacturers prosper from
Vietnam received 45% of Southeast Asia’s demand.
thermal coal imports in 2019 and with more Data from the Energy Department Biden win
coal-fired power plant projects in the pipeline, showed that the project was supposed to
its low domestic coal production will continue start commercial operations by 2025, with Shares in the Chinese companies that
to make it reliant on imports, predominately the financial close dependent on the CSP of dominate production of solar panels rose after
from Indonesia and Australia, market sources Meralco in the last quarter. Joe Biden’s victory increased the likelihood
said. Meralco PowerGen president Rogelio that the world’s top economy will accelerate its
“Power demand in Vietnam in September Singson said the decision to terminate the move toward clean energy, Blooomberg.
at nearly 30 GW was up over 7% from a year agreement was also made in the wake of the During the campaign, Biden said he’s
ago. Platts Analytics expects a continued moratorium for new greenfield coal power aiming to eliminate carbon emissions from
recovery in coal-fired power generation in plants. the U.S. power sector by 2035. Doing so will
Vietnam, as well as Southeast Asia, but we do “That is [moratorium] also included, due require a ramp-up in new solar installations,
not expect a full recovery in the region until to our plan to transition to RE [renewable which should lift global demand and support
the second half of 2021,” said Matthew Boyle, energy] resources,” Singson said. the sector, said Dennis Ip, an analyst with
lead coal analyst from Platts Analytics. The project’s commercial operation Daiwa Capital Markets in Hong Kong.
would be anchored on the completion of “If you look over the past five years, U.S.
the National Grid Corp. of the Philippines’ solar installations were just stable as the
Calaca-Dasmarinas transmission line Trump administration focused on fossil fuels,”
COAL expansion project. Ip said in a phone interview. “A Biden victory
The proposed power plant is the third will lead to a direct increase.”
Meralco, Semirara cancel phase of the planned expansion of the Calaca rising from about 12 gigawatts to 26 gigawatts
Daiwa forecasts U.S. annual installations
coal-fired plant facility in Batangas.
700-MW coal plant venture declared a moratorium on endorsements for over the next five years, which would push
Energy Secretary Alfonso Cusi earlier
global demand growth to almost 20% a year,
Semirara Mining and Power Corp., greenfield or new coal power plants following compared with 17.5% if U.S. policy remained
Meralco Powergen Corp. and St. Raphael the periodic assessment of the country’s unchanged.
Power Generation Corp. terminated their energy requirements. Longi Green Energy Technology Co.,
joint venture agreement to construct a Cusi said in a statement the Department of the world’s largest solar company by market
700-megawatt coal-fired power plant in Energy’s most recent assessment revealed the capitalisation, rose 1.2% in Shanghai on
Calaca, Batangas. need for the country to shift to a more flexible Monday. Polysilicon maker GCL-Poly Energy
SMPC said in a disclosure to the stock power supply mix. Holdings Ltd. added 6.6% in Hong Kong.
exchange on Tuesday the three parties agreed DOE spokesman Felix William The gains also extended to wind power, with
to terminate the joint venture agreement Fuentebella said coal projects listed under the turbine manufacturer Xinjiang Goldwind
dated April 27, 2016 over the construction, department’s committed power projects were Science & Technology Co. climbing 7.3%.
ownership and operation of a 700-MW coal not included in the moratorium because they
power plant effective Nov. 9, 2020. already secured endorsements.
“SMPC shall reacquire all the equity
shareholdings of MGen in SRPGC. SRPGC
was originally a wholly-owned subsidiary
of SMPC and by virtue of the JVA, the
parties, SMPC and MGen have 50:50 equity
ownership over SRPGC,” SMPC said.
SMPC is owned by the Consunji Group
while Meralco PowerGen is the power
generation arm of power retailer Manila
Electric Co.
Officials said the withdrawal of the
companies from the planned joint venture was
due to their separate participation in Meralco’s
competitive selection process for power
supply. CSP rules prohibit involvement in
multiple bids, and MGen plans to participate
through A1E while Semirara’s SRGPC will
submit is own bid.
Meralco earlier signed a power supply
agreement with SRPGC for the supply of up
to 400 MW of capacity. The Supreme Court,
however, ruled that energy companies should

P14 www. NEWSBASE .com Week 45 12•November•2020