New Delhi: Gautam Adani-led Adani Power has raised the issue of unpaid dues of around $800 million from Bangladesh. Notably, Dhaka has witnessed violent protests that left hundreds dead and forced out the previous Sheikh Hasina-headed administration this month.
The neighbouring country owes $800 million to Adani Power Limited, part of the Indian mining-to-media conglomerate. The Adani Group company supplied electricity to the country from its coal-fired plant in the Godda district of Jharkhand, Bangladesh Bank’s newly-appointed Governor Ahsan H Mansur told Bloomberg News in an interview.
Mansur added that if Adani Power is not paid then the company will stop providing electricity to his nation.
A report published in The Economic Times, said at present Adani Power has no plans of stopping the electricity supply, however, the company is expected to come under pressure from lenders and coal suppliers if the payments remain unpaid. according to people familiar with the internal discussions who spoke on the condition of anonymity.
Adani Power commenced full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant in Godda in July 2023. Notably, the thermal plant is India’s first commissioned transnational power project where 100 per cent of the generated power is supplied to another nation.
Godda Plant supplied 1,496 MW under the power purchase agreement signed with the Bangladesh Power Development Board.
On August 6, 2024, Sheikh Hasina, resigned from the prime minister post and fled to India as massive public protests rocked Bangladesh. Hasina, Bangladesh’s longest-serving prime minister, fled as protests flared up over the death of over 300 people in a crackdown by her administration. Hasina’s regime faced protests against a controversial quota in government jobs.
Adani Power supplied electricity to Bangladesh from its Ultra Super-Critical Thermal Power Plant in the Godda district of Jharkhand. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
