- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Adani Power cuts Bangladesh electricity supply by half due to $846 million unpaid bills
A PDB official explained that while some past payments had been made, the costs have been rising quickly.
Updated : Nov 02, 2024, 09:18 PM IST
 "Adani Power cuts Bangladesh electricity supply by half due to $846 million unpaid bills")
TRENDING NOW
)
Sudhanshu Pandey makes big statement on Anupamaa co-actor Rupali Ganguly's stepdaughter allegations: 'It's not good...'
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
Amitabh Bachchan's post on birthdays goes viral as fans notice no mention of Aishwarya-Abhishek's daughter Aaradhya
)
'I rarely say much..': Amitabh Bachchan BREAKS silence on speculations around Aishwarya Rai, Abhishek Bachchan's divorce
)
Meet richest footballer of 2024, not Cristiano Ronaldo, Lionel Messi, his net worth is...
)
Gautam Adani's BIG Rs 16877 crore plan to take on Mukesh Ambani, set to build Mumbai's largest...
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
'Kash ye Aishwarya ke liye...': Amitabh Bachchan shares early review of 'pride' Abhishek Bachchan's film, netizens react
)
Virat Kohli's tweet mistaken for 'divorce announcement' from Anushka Sharma, fans compare to AR Rahman's separation post
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says he'll do 'whatever it takes' to be there for Aaradhya
)
Samantha Ruth Prabhu shares inspirational poem ahead of Naga Chaitanya, Sobhita Dhulipala wedding: 'Force your heart...'
)
Model's bold dance in towel at India Gate raises eyebrows, netizens say arrest her, watch viral video
)
AR Rahman, Saira Banu to separate 29 years after marriage due to 'significant emotional strain': 'Couple has found...'
Adani Power Jharkhand Limited (APJL), part of India’s Adani Power, has reduced its electricity supply to Bangladesh by half because of unpaid bills totalling $846 million. This cut in supply, reported by The Daily Star, has led to a power shortage in Bangladesh, leaving the country short by over 1,600 megawatts (MW) overnight, which has affected electricity availability.
The 1,496 MW power plant in Jharkhand, India, is now supplying only 700 MW from a single unit. This reduction came into effect on Thursday night after APJL repeatedly requested payments from Bangladesh’s Power Development Board (PDB). In a recent letter sent on October 27, APJL urged the PDB to clear the outstanding bills by October 30, warning that if payments weren’t made, they would stop power supply under their Power Purchase Agreement (PPA) terms.
A PDB official explained that while some past payments had been made, the costs have been rising quickly. Since July, Adani Power’s charges have gone up to over $22 million each week, but PDB has only been able to pay around $18 million weekly, causing the unpaid amount to grow further. Last week, a dollar shortage even prevented a payment through Krishi Bank as it couldn’t open a necessary letter of credit for Adani.
Adani’s charges increased after a one-year deal that kept coal prices lower expired. Now, Adani is calculating coal prices based on the original agreement, which uses coal costs from Indonesia and Australia, resulting in higher prices. Under the PPA, Adani Power can still claim certain payments even when supply is reduced.
Adani Group’s chairman, Gautam Adani, has also approached Bangladesh’s interim government, led by Nobel Laureate Professor Muhammad Yunus, asking for help in settling the dues. This situation has highlighted the importance of reliable financial planning and cooperation in international energy agreements, as Bangladesh depends on foreign power to meet its energy needs.
