Adani Group Stays Committed To Supply Power To Bangladesh Despite $800-Million Dues

Adani Group is committed to continue supplying power to Bangladesh despite outstanding dues exceeding $800 million. The company has requested the neighbouring country's interim government to settle these dues to avoid any crisis, according to media reports.

Adani Power Ltd. had announced earlier that it will maintain its power supply to Bangladesh from its 1,600-megawatt Jharkhand plant, which was established specifically to provide all its electricity to the neighbouring country.

Adani Power’s 1,600 MW Godda plant in Jharkhand has a contract with the Bangladesh Power Development Board to supply its entire output. The average monthly billing for this supply is between $90 and $100 million.

Under the then Sheikh Hasina-led government, the company signed a 25-year power purchase agreement with the BPDB in November 2017. The agreement provides 1,496 MW from the plant, which accounts for around 10% of Bangladesh’s peak power demand.

The Godda Power Project is India's first commissioned transnational power project, which provides 100% of the generated power to another nation. The plant generated electricity in June 2023 and has been providing power to Bangladesh since then.

Shares of Adani Power closed 1.37% lower at Rs 635.05 apiece on the BSE, compared to a 1.24% fall in the benchmark Sensex.