Latest news with #powerplants
Reuters
17 hours ago
- Business
- Reuters
India's GMR Energy in talks with investors to issue 5-year bonds
MUMBAI, July 29 (Reuters) - India's GMR Energy plans to raise 16 billion rupees ($184 million) via five-year bonds, two sources told Reuters on Tuesday, as the holding firm for two major power units taps the market for fresh funding. The company will offer an internal rate of return (IRR) of 14.60% to the investors of this issue, which include some alternative investment firms, foreign investors and foreign banks, the sources said. The sources requested anonymity as the talks are private. The company did not respond to a Reuters email seeking comment. The company is the holding company for GMR Kamalanga Energy and GMR Warora Energy, both of which operate thermal power plants. The proceeds of the issue will be used for inter-group lending, including repayment of an existing loan. The bonds would be redeemed in installments, with 20% each at the end f the third and fourth year and 60% at the end of the fifth year. The issue will have a put option at the end of February 2028 and at the end of every four months thereafter. The bond will also have a make-whole call, wherein it will buyback 5 billion rupees of bonds in 12 months from the date of issue and the remaining 11 billion rupees in 21 months. The company had previously raised funds through bonds in December 2023. ($1 = 86.8100 Indian rupees)
Reuters
7 days ago
- Business
- Reuters
U.S. coal power plants well stocked through 2026, EIA says
July 23 (Reuters) - U.S. coal-fired power plants are expected to remain well stocked through the end of 2026, the U.S. Energy Information Administration (EIA) said on Wednesday in its latest short-term energy outlook. Power plants in the U.S. held about 124 million short tons of coal on-site at the end of June, the EIA estimated, enough to last roughly 93 days at a consumption rate of 1.3 million short tons per day. The agency forecasts that days of burn - the estimated number of days a power plant can operate using its current stockpile - will range between 90 and 120 through the end of next year. That's about a month's worth of coal more than power plants had on site between 2019 and 2022. "In our short-term forecast, we expect coal's share of U.S. electricity generation to increase from 16% in 2024 to 17% in 2025 and then decrease to 15% in 2026," the agency said.
Yahoo
23-07-2025
- Business
- Yahoo
China Shuns Low-Grade Coal From Indonesia as Imports Collapse
(Bloomberg) -- Indonesia bore the brunt of a sharp fall in China's coal imports last month, underscoring how Chinese power plants have shifted away from lower-quality fuel due to persistent domestic oversupply. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital China's coal purchases in June plunged 26% from last year to 33 million tons, the least since February 2023. The decline was led by a 30% drop from top supplier Indonesia, whose shipments include a higher proportion of low-calorie lignite. Although record local production has slashed China's import requirements, the size of the decrease is striking given that electricity demand for air conditioning usually rises at this time of year. Moreover, the figures include relatively resilient purchases of steelmaking coal, indicating an even steeper drop-off in demand for the fuel used in power generation. 'Imports are likely to remain on a downtrend as Chinese power plants have to prioritize long-term trade commitments to domestic miners,' said local pricing agency which cited faster adoption of renewables and flagging industrial demand as dragging on prices. That's a particular problem for Indonesian exporters. Over the past three years, China has stepped up imports of lignite, or brown coal, from the Southeast Asian nation, blending it with higher grades for use in power stations. But the collapse in domestic prices to four-year lows has allowed utilities to source better-quality supplies more cheaply. Moreover, the government in Jakarta is considering export levies on coal, which will only weaken the fuel's attractiveness for buyers in China. Some relief on domestic oversupply could be due. Beijing has warned it may shutter coal mines guilty of producing above permitted levels, in the latest sign that regulators are getting serious about reining in overcapacity across industries. China's imports of coking coal for steel, meanwhile, dropped 7.7% year-on-year to 9.1 million tons, although that figure was 23% higher than the previous month. With Australian shipments affected by weather disruptions, the relatively steady demand benefited China's other big suppliers of higher-grade fuel, notably Mongolia and Canada. The outlook for China's beleaguered steel industry remains uncertain, though. While margins have improved at mills — supporting consumption of inputs such as iron ore and coal — government-mandated efforts to shrink steel capacity would ultimately undermine the markets for blast furnace ingredients. On the Wire China's steel demand showed signs of recovery in the first half, rising 4.3% from a year earlier as gains in the auto and machinery sectors offset weakness in property, according to Bloomberg Intelligence. The platinum market has tightened to unprecedented levels in the past few days as tariff fears and speculative buying pull metal from the key London and Zurich markets into warehouses in the US and China. US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks aimed at extending a tariff truce and widening the discussions. This Week's Diary (all times Beijing) Wednesday, July 23 Iron ore resource development conference in Ningbo, Zhejiang, day 1 CCTD's weekly online briefing on Chinese coal, 15:00 CSIA's weekly polysilicon price assessment Thursday, July 24 EU-China summit in Beijing China solar association's mid-year conference in Datong, Shanxi, day 1 Iron ore resource development conference in Ningbo, Zhejiang, day 2 CSIA's weekly solar wafer price assessment Friday, July 25 China solar association's mid-year conference in Datong, Shanxi, day 2 Iron ore resource development conference in Ningbo, Zhejiang, day 3 China's weekly iron ore port stockpiles Shanghai exchange weekly commodities inventory, ~15:30 Saturday, July 26 Nothing major scheduled Sunday, July 27 China's industrial profits for June, 09:30 Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
23-07-2025
- Business
- Bloomberg
China Shuns Low-Grade Coal From Indonesia as Imports Collapse
Indonesia bore the brunt of a sharp fall in China's coal imports last month, underscoring how Chinese power plants have shifted away from lower-quality fuel due to persistent domestic oversupply. China's coal purchases in June plunged 26% from last year to 33 million tons, the least since February 2023. The decline was led by a 30% drop from top supplier Indonesia, whose shipments include a higher proportion of low-calorie lignite.
Yahoo
23-07-2025
- Business
- Yahoo
China Shuns Low-Grade Coal From Indonesia as Imports Collapse
(Bloomberg) -- Indonesia bore the brunt of a sharp fall in China's coal imports last month, underscoring how Chinese power plants have shifted away from lower-quality fuel due to persistent domestic oversupply. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital China's coal purchases in June plunged 26% from last year to 33 million tons, the least since February 2023. The decline was led by a 30% drop from top supplier Indonesia, whose shipments include a higher proportion of low-calorie lignite. Although record local production has slashed China's import requirements, the size of the decrease is striking given that electricity demand for air conditioning usually rises at this time of year. Moreover, the figures include relatively resilient purchases of steelmaking coal, indicating an even steeper drop-off in demand for the fuel used in power generation. 'Imports are likely to remain on a downtrend as Chinese power plants have to prioritize long-term trade commitments to domestic miners,' said local pricing agency which cited faster adoption of renewables and flagging industrial demand as dragging on prices. That's a particular problem for Indonesian exporters. Over the past three years, China has stepped up imports of lignite, or brown coal, from the Southeast Asian nation, blending it with higher grades for use in power stations. But the collapse in domestic prices to four-year lows has allowed utilities to source better-quality supplies more cheaply. Moreover, the government in Jakarta is considering export levies on coal, which will only weaken the fuel's attractiveness for buyers in China. Some relief on domestic oversupply could be due. Beijing has warned it may shutter coal mines guilty of producing above permitted levels, in the latest sign that regulators are getting serious about reining in overcapacity across industries. China's imports of coking coal for steel, meanwhile, dropped 7.7% year-on-year to 9.1 million tons, although that figure was 23% higher than the previous month. With Australian shipments affected by weather disruptions, the relatively steady demand benefited China's other big suppliers of higher-grade fuel, notably Mongolia and Canada. The outlook for China's beleaguered steel industry remains uncertain, though. While margins have improved at mills — supporting consumption of inputs such as iron ore and coal — government-mandated efforts to shrink steel capacity would ultimately undermine the markets for blast furnace ingredients. On the Wire China's steel demand showed signs of recovery in the first half, rising 4.3% from a year earlier as gains in the auto and machinery sectors offset weakness in property, according to Bloomberg Intelligence. The platinum market has tightened to unprecedented levels in the past few days as tariff fears and speculative buying pull metal from the key London and Zurich markets into warehouses in the US and China. US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks aimed at extending a tariff truce and widening the discussions. This Week's Diary (all times Beijing) Wednesday, July 23 Iron ore resource development conference in Ningbo, Zhejiang, day 1 CCTD's weekly online briefing on Chinese coal, 15:00 CSIA's weekly polysilicon price assessment Thursday, July 24 EU-China summit in Beijing China solar association's mid-year conference in Datong, Shanxi, day 1 Iron ore resource development conference in Ningbo, Zhejiang, day 2 CSIA's weekly solar wafer price assessment Friday, July 25 China solar association's mid-year conference in Datong, Shanxi, day 2 Iron ore resource development conference in Ningbo, Zhejiang, day 3 China's weekly iron ore port stockpiles Shanghai exchange weekly commodities inventory, ~15:30 Saturday, July 26 Nothing major scheduled Sunday, July 27 China's industrial profits for June, 09:30 Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Burning Man Is Burning Through Cash A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
