PLN to receive Rp 9.6t from state coffers to build power infrastructure

first_img“We will use the funds as equity and reduce PLN loans,” PLN president director Zulkifli Zaini told House of Representatives lawmakers in Jakarta on Monday evening.His presentation and the regulations show that 86 percent of the capital is slated to develop transmission infrastructure, including high-voltage power lines and substations, all in western Indonesia except for several projects in Sulawesi.The country’s heavy investment in the infrastructure of electricity distribution is part of Indonesia’s efforts to achieve a 100 percent electrification ratio this year. The ratio – a measure of the proportion of communities with electricity – reached 98.89 percent last year.However, Zulkifli said the latest capital injection was insufficient to meet Indonesia’s power infrastructure targets. He said that meeting such targets would cost an estimated Rp 15.2 trillion, funds that the company has been raising through bank loans and global bonds. PLN slated 3 percent of the working capital injection to be used for electricity distribution infrastructure and 11 percent for renewable energy power plants in Sulawesi, Kalimantan, Aceh, Papua island and East Nusa Tenggara. The latter two are Indonesia’s most impoverished regions.“The [3 percent] capital is only for renewables. Not for fossil fuels,” added Zulkifli.Energy analyst Fabby Tumiwa said the use of renewable energy was cost-effective, as the state capital injections would be used to electrify 433 remote villages, most of which were located in West Papua and Papua.Many of the targeted villages in Papua are located in densely forested mountain areas.Read also: Indonesia to electrify 433 remote eastern villages“The most cost-effective solution to provide electricity there [in Papua and West Papua] is through the use of local energy, the renewable energy sources. An even better option is to distribute the plants’ electricity with a mini-grid or micro-grid,” he said.In electrifying the villages, PLN plans to expand electricity networks, build renewable energy power plants and distribute handheld ‘Talis’ battery packs. PLN estimates the electrification program would cost at least Rp 1.26 trillion.For PLN, expanding its electricity networks is also a strategy to weather a domestic electricity oversupply that strains the company’s cash flow due to the lower demand during the pandemic.The electricity giant is particularly focused on expanding its network to high industrial activity regions such as manufacturing-heartland Java and mineral-rich Sulawesi.PLN’s spending on privately owned power plants (IPPs) is projected to exceed its own fuel spending by 2021, due to the oversupply, warns a recent Institute for Energy Economics and Financial Analysis (IEEFA) study. IEEFA director Melissa Brown, who authored the study, said the COVID-19 pandemic exacerbated the financial problem as electricity domestic demand collapsed yet PLN remains obligated to buy a certain amount for electricity from IPPs.“The COVID-19 crisis has upended Indonesia’s financial settings and PLN’s dealings with the Indonesian public and global markets will need to be adjusted to face the new reality,” she said in a statement on April 7.PLN booked a net loss of Rp 38.9 trillion in this year’s first quarter, down from a net profit of Rp 4.12 trillion in the same period last year, after the rupiah exchange rate fell to a record low against the greenback in March.Topics : State-owned electricity giant PLN is slated to receive Rp 9.6 trillion (US$695 million) in state capital injections (PMN) from the government this year to develop power infrastructure in Indonesia and increase the country’s electrification ratio.The capital comprises Rp 5 trillion from the 2020 state budget and Rp 4.6 trillion diverted from the Energy and Mineral Resources Ministry budget. PLN will use the capital to develop renewable energy power plants, power lines and substations.The funds allocation is stipulated in Government Regulation No. 37/2020 and No. 36/2020, both of which were issued on July 7.last_img read more

Mermaid Waters mansion hits market with nine car spaces

first_img51-53 Portobello Drive Mermaid WatersMore from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoOutside there is a granite wet bar with integrated wine fridges and LED lighting.Mr Raaschou said duck was the best time of day to enjoy the views.“We have outdoor lights that are timed to come on just as dusk sets and by the time it is completely dark the pool and deck have an electric blue glow,” he said.“The garden lights up and it is a magnificent sight. 51-53 Portobello Drive Mermaid WaterSTEP inside this magnificent Mermaid Waters mansion and the expansive view will take your breath away. Owner Erik Raaschou and his wife bought the substantial multi-level home last year after the gated street and size of the property captured their interest. The 1919sq m block has 60m of waterfront.“We have lived around this part of the Gold Coast for the past five years and Portobello Drive is by far our most-loved spot,” Mr Raaschou said. 51-53 Portobello Drive Mermaid Waters“It only takes five minutes to get to some of our favourite restaurants.” Glass windows soar 5.5m in the central entertainment space and frame stunning views across the pool to the wide water.Granite bench tops form a focal point in the kitchen.The 90s built home has been extensively renovated by Mr Raaschou and now channels a sophisticated-Hamptons charm with high ceilings, limestone tiles and a facade of stone, weatherboard and render. 51-53 Portobello Drive Mermaid Waters“There is no better feeling than sitting outside on the patio with friends and enjoying the view, listening to the outdoor sound system and watching the kids play in the pool.”The five-bedroom, four-bathroom home includes a private main bedroom wing with a fresstanding bath and waterfront balcony. Mr Raaschou said the family spared no expense transforming the home. “We have made it into our dream house,” he said. 51-53 Portobello Drive Mermaid Waters“Most of our time has been spent in the kitchen and our media room watching movies on the big screen with the Bose home theatre set up, which is always a lot of fun.“One of my fondest memories of the house would be having Christmas with all of our extended family here. We had the kids playing soccer outside, everyone in the pool, people relaxing on the deck – it was amazing.”last_img read more

Future EIOPA stress tests could examine carbon asset risk

first_imgFuture European stress tests of the pension sector are set to examine climate-related risks, following a recommendation by the European Systemic Risk Board (ESRB).Pension funds could also face upper limits on their exposure to high-risk carbon assets, if regulation were adapted in the wake of any stress test results, the board said.The ESRB examined the potential risk resulting from a late low-carbon transition, arguing that belated awareness of the importance of reducing emissions could see an “abrupt” introduction of constraints on the use of high-carbon energy sources.It also suggested that such a shift would increase systemic risks due to the decline in value of carbon-intensive assets and the impact of sudden changes in energy usage. As a result, the report – ‘Too late, too sudden: Transition to a low-carbon economy and systemic risk’ – proposed that future stress testing of the financial sector by the European Supervisory Authorities, such as the European Insurance and Occupational Pensions Authority (EIOPA), incorporate the risk of its ‘hard landing’ scenario.“In particular,” the report adds, “the ESRB macroeconomic scenario [drafted for future stress tests] could incorporate an upward shock in the price of non-renewable energy sources, causing a negative impact on aggregate demand while at the same time ‘turning off’ any positive balance-sheet effects for energy producers and accounting for country specificities.”It also suggests that dedicated carbon stress tests could be conducted to determine the most important systemic risksAs a way of dealing with the risks associated with carbon emissions, the board suggested investors subject to capital charges could see tailored capital surcharges based on the carbon intensity of their holdings, or that there could be upper limits on assets “highly vulnerable” to a rapid transition.EIOPA’s inaugural pension fund stress test exposed the defined benefit sector to two scenarios, including one looking at the impact of a commodities shock.The supervisor’s chairman, Gabriel Bernardino, said it planned to conduct further stress tests in two years, allowing the ESRB to devise its next potential scenario in 2017.,WebsitesWe are not responsible for the content of external sitesLink to ESRB report ‘Too late, too sudden’last_img read more

MOL takes delivery of world’s largest FSRU

first_imgMOL FSRU Challenger, the world’s largest FSRU (Image: MOL)Mitsui O.S.K. Lines of Japan has last week taken the delivery of the world’s largest floating storage and regasification unit (FSRU). To remind, the MOL FSRU Challenger has been officially named in a recent ceremony at the Okpo shipyard of Daewoo Shipbuilding & Marine Engineering in South Korea.The vessel is the first FSRU that Japan’s MOL has built independently and will own and operate.MOL FSRU Challenger has been delivered to its owner on October 10, MOL LNG Transport (Europe) Ltd, a unit of the Japanese shipowner that will manage the vessel said in a brief statement via its social media channels.Image courtesy of MOL LNG Transport (Europe) LtdMOL said previously that the FSRU will provide storage and regasification services to a project in Turkey after delivery during October with operation expected to start within 2017.The FSRU has an LNG storage capacity of 263,000 cubic meters and has re-shipment and gas transfer capabilities. The unit will have a regas discharge capacity of 540 million cubic meters per day.Its specifications allow for the re-export of LNG and supply of LNG to neighboring regions where the vessel is located. LNG World News Stafflast_img read more

Calls to develop an assistance program within the health sector

first_imgLocalNews Calls to develop an assistance program within the health sector by: – November 15, 2011 Share Tweet Share Image via: holders in the Health and Education sectors want an Employee Assistance Program to be developed in Dominica. That decision was made during a four day workshop on the development of an HIV/AIDS/STI’s policy last week organized by the Ministry of Education and Human Resource Development in collaboration with CARICOM and the Education Development Centre (EDC).CARICOM education development Consultant and facilitator of the HIV policy development workshop Sandra Berry, says the employee assistance program is aimed at assisting vulnerable residence of Dominica. “The employee assistance program will help vulnerable citizens of the Commonwealth of Dominica. Other countries have programs where health packages may be made to some persons who may not fall within normal strata. You may use criteria such as the income barrier and the income level of the home. We believe that it will aid persons who are affected by HIV/AIDS,” she explained.Meantime, Coordinator of the Child Abuse Prevention Unit Jemma Azille says the development of the HIV/Aids policy is timely for Dominica.She said having a workshop of that magnitude is vital because it creates the avenue to speak to the children.“They can be informed as to exactly what is HIV/AIDS so in case any one of them becomes sexually abused, they can have a better understanding about the implications which include HIV/AIDS,” she said.Dominica Vibes Newscenter_img Share Sharing is caring! 8 Views   no discussionslast_img read more

Kudus’s transfer to Ajax impresses Ghana coach

first_img Loading… Ghana coach, Charles Akonnor is excited about Mohammed Kudus’ move to Ajax. The Ghana winger left FC Nordsjaelland for Ajax last week, though also fielded interest from the likes of Manchester United and Tottenham. “He has taken a necessary step. It would have been a mistake if he had already gone to England because he would have to choose a club where he can play on a regular basis,” Akonnor told Graphic Sports.Advertisement Promoted ContentCouples Who Celebrated Their Union In A Unique, Unforgettable WayBest & Worst Celebrity Endorsed Games Ever Made9 Heroes Of Popular Memes Then And NowBirds Enjoy Living In A Gallery Space Created For Them6 Incredibly Strange Facts About HurricanesEverything You Need To Know About Asteroid ArmageddonWhich Country Is The Most Romantic In The World?7 Black Hole Facts That Will Change Your View Of The Universe10 Extremely Dirty Seas In The WorldTop 10 TV Friends Who Used To Be Enemies6 Best Natural History Museums In The World10 Extremely Gorgeous Asian Actressescenter_img read also:My relationship with former Ghana coach Appiah still broken – Gyan “As soon as he has fully developed, the English clubs will come after him soon enough, so I think it is good that he has now gone to Ajax. “I am delighted to see my players at the bigger clubs and in the Champions League.” FacebookTwitterWhatsAppEmail分享 last_img read more

Donald J. Baechle Sr.

first_imgDonald J. Baechle Sr., age 88 of Bradenton, Florida and formerly of Batesville, died Thursday, June 6, 2019 at his home.  Born April 28, 1931 in Sunman, Indiana, he is the son of Ada (Nee: Herzog) and Charles Baechle.  He married Darlene Siebert June 25, 1955 at St. Louis Church.  Don went to work for Hillenbrand Industries while in high school.  Just before turning 20, he was drafted into the Navy, serving three year during the Korean War.  After being discharged he went back to work at Hillenbrand Industries, where he would retire after 34 years.  Don was a member of St. Louis Church and the Prell-Bland American Legion Post #271.In 2002 he and Darlene moved to the Golf Lakes community in Bradenton.  Don was an avid golfer and had a lifelong passion for photography.  The family explained that he was an amazing storyteller and possessed a quick wit and enjoyed seeing people happy and laughing.  Don liked food as well, with a real weakness for ice cream.  They said if he went on a trip, he would talk about the restaurants he’d been to rather than the places he’d seen or things he’d done.  He also was a handyman able to fix or build anything with duct tape, wire or electrical tape.  A favorite story is the infamous bush in the back yard.  It always looked better than the others, but never seemed to grow.  Later the family found out it had died several years earlier and he had spray painted it, so it kept its color.  The color…………….evergreen!  Don’s greatest joy was his family.  He and Darlene would have celebrated their 64th anniversary at the end of this month.  He delighted having family visit and having the grandkids and great grandkids around always put a twinkle in his eyes.Don is survived by his wife Darlene; daughter Deborah Zielinski of Cincinnati, Ohio; sons Timothy of Greensburg, Jeffrey of Westfield, Indiana, Donald Jr. of Batesville; grandchildren Clinton Baechle, Sarah Zielinski, Joshua Baechle, Shawn Zielinski, Erica Baechle, Jana Pace, Christopher Baechle, Justin Baechle, Corey Zielinski, Austin Baechle, Morgan Baechle and 12 great grandchildren.  In addition to his parents, he is also preceded in death his son Thomas and sisters Virginia Hortemiller Cook and Ada Schoettelkotte.Visitation is Thursday, June 13th, from 9 – 11 a.m. at the Weigel Funeral Home.  Funeral services follow at 11:30 a.m. at St. Louis Church with Rev. Stan Pondo officiating.  Burial will be in the church cemetery with military graveside rites being conducted by the Prell-Bland American Legion Post #271 and Ripley County V.F.W. Post #3183.  The family requests memorials to the Wounded Warrior Project or Southeastern Florida Guide Dogs.  For online condolences go to read more

Governor announces additional COVID-19 efforts including childcare

first_imgINDIANAPOLIS — In a continuing effort to slow the spread of coronavirus, Governor Eric J. Holcomb announced additional efforts, including new guidance for childcare.“There is a critical need for child care for those workers who are taking care of others and helping Hoosiers keep food and supplies in their homes. We appreciate all of the efforts Superintendent of Public Instruction Dr. Jennifer McCormick and FSSA Secretary Dr. Jen Sullivan and their staffs have worked on jointly to create more child care options for parents,” said Gov. Eric J. Holcomb.These are the actions the governor announced Wednesday: The Indiana State Department of Education (DOE) and Family and Social Services Administration (FSSA) have teamed to encourage school corporations in Indiana to open schools on a limited basis to provide child care services for emergency workers and others who are working to keep communities safe during the COVID-19 pandemic.On Friday, FSSA provided new guidance for child care operators who are licensed by the state. Here is the link: Today, DOE provided similar guidance to school corporations to care for the school age children of essential workers. The guidance provides specific steps for schools to take to open school facilities as well as how to maintain a safe environment. precautions for school district officials, the steps include collecting child health records, allowing extra time for deep cleaning, prohibiting staff who are in high-risk categories from providing the care, and keeping groups of students in separate areas of the building.The Indiana Economic Development Corporation (IEDC) has spoken to more than 1,000 businesses and economic development agencies in the last five days about ways to continue supporting the state’s economy as well as its front-line COVID-19 pandemic response workers.More than 135 companies have been fully vetted as being able to help, including RV and auto manufacturers that are switching lines to help make shields, masks and other Personal Protective Equipment (PPE).Multiple companies – including Subaru, Heritage Group and Summit MMI – have come together to donate thousands of PPE. Restaurants and companies have donated thousands of gloves.Office of Community and Rural Affairs announced Community Development Block Grant funds may be redirected to assist with COVID-19 needs based on guidance from the United States Housing and Urban Development. This program could help fund projects such as mobile testing areas or economic assistance packages for small businesses.last_img read more

Newcastle agree $378m deal with Saudi consortium

first_imgRelatedPosts Ighalo: My best moment as ‘Red Devil’ EPL: Newcastle set to extend winning streak Ings not interested in leaving Saints, Southampton manager says A Newcastle United takeover has moved a significant step closer with a 300-million-pound ($378 million) deal believed to have been agreed between owner Mike Ashley and a Saudi Arabia-backed consortium.According to several British media outlets, barring any last-minute changes of heart, Ashley’s 13-year ownership of Newcastle could soon come to an end.A 31-page charge agreement lodged at Companies House last week provide concrete proof that advanced negotiations are well under way.The BBC confirmed that the Premier League has also been informed of the potential deal and are understood to have begun the process of carrying out checks under its owners and directors test.The Guardian revealed that the consortium was fronted by the Yorkshire-born financier Amanda Staveley, who has been backed by the UK-based Reuben Brothers and Saudi Arabia’s Public Investment Fund.The latter is one of the world’s wealthiest sovereign wealth funds and the original plan involved PIF assuming an 80 per cent stake in the club, Reuben Brothers 10 per cent and PCP Capital the remainder.Sky Sports added that the asking price was understood to have dropped to around 300 million British pounds from a previous 340 million.The reduction could reflect the impact of the COVID-19 pandemic that has halted most football leagues worldwide.Newcastle is one of the several English Premier League clubs to have furloughed non-playing staff using a government scheme.On Tuesday, Bournemouth announced it had reversed a decision to furlough staff amid growing public criticism.“These measures were not taken lightly, given the operational pressures placed on clubs in such uncertain times,” the club directors said in a statement. “However well-placed our intentions were, we are aware of criticisms leveled at Premier League clubs applying for this scheme.”Bournemouth is the third EPL club to backtrack about furloughing staff under the scheme during the coronavirus crisis, following Liverpool and Tottenham.It left Newcastle and Norwich as the only EPL clubs continuing to place their non-playing staff on furlough through the scheme despite a fierce backlash.Tags: Newcastle UnitedPremier LeagueSaudi Arabialast_img read more

C-NS girls basketball rips Liverpool; Cook reaches 1,000 points

first_img Tags: C-NSgirls basketballliverpool Both Jessica Cook and her Cicero-North Syracuse girls basketball teammates had absorbed plenty of punishment at the expense of elite competition both inside and outside New York State in December.But as the calendar turned to 2020, the Northstars, well-rested and quite eager to apply all the lessons learned along the way, reminded everyone what it could still do – and at the expense of one of its main rivals.Liverpool would meet up with C-NS last Friday at Onondaga Community College’s Allyn Hall, and it turned into a showcase on many levels for Cook as her Northstars handled the Warriors 64-32.From the opening tip, the main story was how Cook could find herself open in the pain and convert, and she didn’t let up until she had set a new career mark with 38 points, which included 18 field goals and two free throws.Along the way, Cook earned her 1,000th career point, joining luminaries like Breanna Stewart and Amani Free as she continues to climb the school’s all-time scoring list.As this went on, C-NS’s defense smothered Liverpool, with only Victoria Morgan producing on a consistent basis as she finished with 10 points. A Carey-Santangelo had seven points and A Kulakowski six points for the Northstars.C-NS needed the boost, havingdropped three consecutive games from Dec. 19 to 21 in the Nike Tournament of Champions in Arizona and seeing its overall record dip to 3-5 (it had lost to Shenendehowa and Averill Park earlier in the month).Liverpool, meanwhile, had gone to the Colonie Tournament and, in the Dec. 26 opening round against the host Garnet Raiders, played three tremendous quarters before it all fell apart late in a 57-52 defeat.All went well early, the Warriors playing strong defense and steadily building a 30-16 halftime advantage, and then adding to that margin in the third quarter, leading by 21 at one point.Entering the fourth quarter, it was still 46-28, but a series of turnovers, forced by pressure, and red-hot shooting by Colonie erased most of that deficit.With two minutes left, It was 50-46, but led by Ahnalese Pearson, who scored the last nine points of the game and 18 overall, the Garnet Raiders closed with an 11-2 push.Morgan, in defeat, had 18 points, with Michelle Lonczak and Julia Wike each getting eight points as Sarah Miles gained seven points.Now Liverpool had to try and recover in the Dec. 27 consolation game against Catholic Central, who had lost to state Class A no. 1-ranked Averill Park 64-20 the day before.Showing some admirable resolve, the Warriors defeated Catholic 59-46, and this time it was the Warriors making the late comeback, overcoming a 28-24 halftime deficit with steady second-half production.Wingate led the way, amassing 20 points and 16 rebounds, both of them career marks. Morgan got 14 points, five rebounds and three assists, while Miles had nine points and nine rebounds. Wike again had eight points.Following the defeat to C-NS, Liverpool faces undefeated Baldwinsville next Tuesday and Nottingham next Friday at OCC, while the Northstars visit Fayetteville-Manlius and host Corcoran those same nights.Share this:FacebookTwitterLinkedInRedditComment on this Story last_img read more