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"बिजली गिराने मैं हूँ आयी": Adani Power will completely stop electricity supply to Bangladesh if $846M in dues aren’t paid by November 7; earlier, 50% of the supply was cut, worsening Bangladesh’s energy crisis amid ongoing fuel and dollar shortages
Adani Power has issued a stern warning to Bangladesh, stating that it will cease electricity supply entirely if outstanding payments are not settled by November 7, 2024. This ultimatum follows a significant reduction in power delivery, with Adani Power Jharkhand Limited, a subsidiary of Adani Power, cutting its supply to Bangladesh by 50% due to unpaid dues amounting to approximately $850 million owed by the Bangladesh Power Development Board (BPDB). The Daily Star
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The Godda power plant in Jharkhand, operated by Adani, plays a crucial role in Bangladesh's energy infrastructure. With a generation capacity of 1,496 megawatts (MW), the plant has been supplying only about 700 MW recently, exacerbating the nation's existing power shortages.
Previously, Adani set an October 31 deadline for BPDB to clear the dues and requested a $170 million letter of credit as payment security. However, Bangladesh has faced challenges in meeting these demands, primarily due to a shortage of US dollars. BPDB's efforts to arrange a payment guarantee through Krishi Bank reportedly did not align with the terms stipulated in the power purchase agreement, further complicating the situation. Times of India
Adani Power Jharkhand Limited (APJL) took a firm step on October 31, 2024, by slashing over 50% of the electricity supply to Bangladesh. The company had warned the Bangladesh Power Development Board (BPDB) that if payments were not cleared, it would take action. Adani Power had given a deadline of October 30 for BPDB to settle the debt. In a letter addressed to the board, the company clearly stated, “PDB has neither provided LC (Letter of Credit) for an amount of $170.03 million from Bangladesh Krishi Bank nor cleared the outstanding amount of $846 million.”
Currently, the power supply from Adani has been cut to 724 megawatts (MW), a major drop from the 1,496 MW that was previously provided. This reduction has plunged Bangladesh into a deeper power crisis, as the country is already struggling with reduced energy production due to a fuel shortage. The ongoing power cuts have strained the nation, affecting both residential and industrial areas, putting pressure on daily life and economic activities.
If Bangladesh fails to pay the pending amount, Adani Power will completely stop supplying electricity. This potential full power cut is alarming for a nation grappling with energy scarcity. Meanwhile, Adani Power is not just waiting around. The company is actively preparing to link its Godda power plant to India’s domestic grid. This move will redirect the electricity to Indian states, ensuring that the power generation is efficiently used within India rather than sitting idle. Such strategic planning highlights Adani's emphasis on safeguarding its investments and ensuring energy distribution where it is most valued.
Bangladesh, on the other hand, is under immense financial stress. The interim government is struggling to pay off the massive debt to Adani, primarily because of a severe shortage of US dollars. Various measures have been considered to address this crisis, including exploring the possibility of issuing government bonds to meet the financial obligations. However, the financial landscape in Bangladesh remains highly unstable, complicating the resolution of the debt.
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