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BIG move by Gautam Adani, his company to stop supplying power to Bangladesh if all payments not cleared by...
APJL recently reduced its power supply to Bangladesh by half due to unpaid bills
Updated : Nov 04, 2024, 07:36 AM IST
 "Gautam Adani")
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Adani Power Jharkhand Limited (APJL) has set a deadline of November 7 for the Bangladesh government to clear outstanding dues, warning that power supply to the country will be completely cut off if payments are not made, according to reports. APJL recently reduced its power supply to Bangladesh by half due to unpaid bills.
The Bangladesh government currently owes Adani about $850 million. Due to this shortfall, Bangladesh faced a power deficit of more than 1,600 megawatts (MW) on the night between Thursday and Friday, with only one of APJL’s units supplying 700 MW out of the contracted 1,496 MW.
Adani previously sent a letter to Bangladesh’s Power Development Board (PDB), demanding dues be cleared by October 30 and warning of a potential supply suspension. The company cited a lack of a $170 million letter of credit from Bangladesh Krishi Bank and an overdue amount of $846 million.
A PDB official said that while they’ve been paying around $18 million per week, the total bill exceeds $22 million weekly, causing dues to rise again. He also noted that a recent payment could not be processed due to a dollar shortage at Krishi Bank.
Adani’s charges increased after a one-year supplementary deal expired, reverting to coal prices calculated under the original Power Purchase Agreement (PPA) based on Indonesian and Australian coal indexes, which are currently high.
Adani also communicated with Bangladesh’s interim government, led by Muhammad Yunus, pressing for payment.
