Bangladesh Pays $150 Million Of $800 Million In Dues Owed To Adani Power
Adani Power’s 1,600 mega watt plant in Godda, Jharkhand has a contract with the Bangladesh Power Development Board to supply its entire output.
(Source: Vijay Sartape/ NDTV Profit)
Bangladesh’s interim government paid about $150 million out of $800 million in dues for power supplied by Adani Power Ltd.'s coal-fired plant in the Godda district of the eastern Indian state of Jharkhand, as per a Bloomberg report.
Bangladesh’s interim government started clearing unpaid dues to Adani Power for electricity, said central bank Governor Ahsan H. Mansur.
Bangladesh’s overall arrears amounted to $2.5 billion as of August with the energy sector accounting for the “bulk of the amount” according to Bloomberg.
Adani Power’s 1,600 mega watt plant in Godda, 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. The plant generated electricity in June 2023 and has been providing power to Bangladesh since then.
Adani Power had signed a 25-year power purchase agreement with the Bangladesh Power Development Board in November 2017, under Sheikh Hasina's tenure.
"The agreement provides 1,496 MW from the plant, which accounts for around 10% of Bangladesh’s peak power demand," NDTV Profit reported.
Shares of Adani Power closed 1.00% higher at Rs 671.75 apiece on the BSE, compared to a 0.45% rise in the benchmark Sensex.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
