Adani-Bangladesh Deal: Rs 7500 Crore Plan For This Adani Group Company - Details

Adani-Bangladesh deal: Adani Power, led by billionaire Gautam Adani, is likely to maintain a stable power supply from its 1,600-megawatt Godda plant in Jharkhand to Bangladesh, following the introduction of a ‘dynamic payment plan’ by Bangladeshi authorities for all electricity providers, including Adani Power, according to media reports.

The company had warned Bangladesh of a complete power supply halt by Friday, 7 November, if pending payments of nearly Rs 7,500 crore were not cleared, according to Reuters citing sources close to the situation. 

Facing difficulties in sourcing coal: Adani Power

Adani Power, which supplies electricity to Dhaka, has cited difficulties in sourcing coal for power generation as the reason behind the demand for payment.

This month, Adani Power reduced its supply to Bangladesh from about 1,400 megawatts to 700-800 megawatts, a senior official at the Bangladesh Power Development Board told Reuters. 

Increasing financial pressure

Bangladesh, struggling with high costs for fuel and other imports since the Russia-Ukraine conflict began in 2022, has been facing mounting financial pressures. Political instability following the ouster of former Prime Minister Sheikh Hasina in August has further complicated the situation.

In recent weeks, Bangladesh has made efforts to clear outstanding payments, with $96 million paid last month and a new letter of credit issued for an additional $170 million, said Muhammad Fouzul Kabir Khan, the interim government’s power and energy adviser to Reuters.

(With Reuters inputs)