Adani may power up Bangladesh supply to 100% (original) (raw)

Mumbai: Adani Power may restore full electricity supply to Bangladesh as the country starts clearing dues, according to sources aware of the development.

Bangladesh's power dues have fallen from their peak of 1billioninAugust2024to1 billion in August 2024 to 1billioninAugust2024to700 million now, they said.

Since October 31, 2024, Adani has halved its power supply to Bangladesh due to payment delays, caused by the country's foreign exchange shortage.

In December however, the Bangladesh Power Development Board (BPDB) had conveyed to Adani to halve power supply due to low demand owing to the onset of winter. Adani Power did not reply to an emailed query.

"The power dues are down as Bangladesh is making payments of around $85 million per month to Adani Power," said an official aware of the development.

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According to news agency Reuters, BPDB and Adani officials were due to meet virtually Tuesday following another meeting recently to work out various issues between them.

"As per our requirement today, they have planned to synchronise the second unit, but due to the high vibration, it didn't happen," BPDB Chairperson Md. Rezaul Karim told Reuters, referring to some technical problems that stopped the unit from restarting on Monday. "Right now, we are making a payment of $85 million per month. We are trying to pay more, and our intention is to reduce the overdue. Now there is no big issue with Adani," he told Reuters.

Adani Power supplies nearly 1600 MW of power to Bangladesh from its coal-fired plant in Godda, Jharkhand. It has two units of nearly 800 MW each.

It had signed a 25-year power purchase agreement (PPA) with BPDB in 2015 and meets a tenth of Bangladesh's electricity needs. The PPA is backed by the sovereign guarantee of the Government of Bangladesh.

Its Godda power plant is dependent on imported coal and supplies power to Bangladesh with Fuel Cost pass through. Balance 7.1 GW capacity is located closer to mines of which 84% has fuel supply agreement.