Bangladesh makes big move, set to affect relation with Gautam Adani, decides to...
New Delhi: Bangladesh has significantly reduced its outstanding dues under a power supply agreement with Adani Power in June as it paid $ 384 million to the company, say the sources. How much amount is due on Bangladesh?
This amount of $ 384 million paid to Adani Power in June (till 27 June) is a part of the committed $ 437 million to be paid during the month, two sources aware of the matter said. This payment will clear Bangladesh's admitted claims till March 31. Once this amount of Adani's claimed dues is cleared, the total dues will come down to around $ 500 million (assuming Bangladesh meets its month-end commitment), they said. When was the deal made with Adani Power?
Bangladesh has struggled to meet its payment obligations under the 2017 deal, as rising import costs following the Russia-Ukraine conflict in 2022 and the massive violent protests led by students in the country. The turmoil led to the ouster of prime minister Sheikh Hasina as she fled on August 5. This entire chain of events has squeezed the country's finances. Adani Power's action over non-payment
As a result, Adani had halved supply last year and full supplies were resumed in March 2025 after the country's monthly payments started covering some of the dues. With the latest payments, Bangladesh has paid nearly $ 1.5 billion of the roughly $ 2 billion total billed amount.
When contacted, an Adani Power spokesperson confirmed the payments but didn't share details on 'claimed' and 'agreed' dues stating these discussions are private. From which plant in India power was supplied?
The 2017 power supply deal between Adani Power and Bangladesh had come in for scrutiny after the ouster of the Sheikh Hasina-led government last year. Interim government, led by Muhammad Yunus, called for the formation of a high-level committee, comprising energy and legal experts, to re-examine the power purchase agreement (PPA).
Under the 2017 deal, Adani Power's Godda power plant in Jharkhand was to supply 100 per cent of the electricity generated from burning coal, to Bangladesh for a period of 25 years. Effect of cutting power
After payment defaults, Adani had cut electricity supplies by half in November 2024 and restored full supply of 1,600 MW in March. Bangladesh stepped up repayments from July last year, clearing monthly dues. Bangladesh has been struggling to generate sufficient dollar revenues to cover the cost of essential imports such as electricity, coal, and oil. Its foreign currency reserves declined. IMF loan
The interim government that succeeded her sought an additional $ 3 billion loan from the International Monetary Fund (IMF) on top of the existing $ 4.7 billion bailout package.
Adani's power deal with Bangladesh was one of the many under Sheikh Hasina, which the current interim government has called opaque. Besides Adani Power, other Indian state-owned firms also sell power to Bangladesh, including NTPC and PTC India Ltd.
(With PTI inputs)
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