Adani sets new deadline for Bangladesh to pay outstanding electricity bills

The Indian conglomerate Adani Group has given Bangladesh a new deadline to clear its unpaid electricity bills. 

The Power Development Board (PDB) received a letter from Adani last Sunday, asking for the outstanding amount to be paid by June.

According to the letter, by January 6, the total amount owed by the PDB to Adani stood at Tk 10,309 crore. 

The power plant, based in Jharkhand, India, has been providing Bangladesh with 1,500 megawatts of electricity every day.

There has been a back-and-forth between Bangladesh‍‍`s interim government and Adani Group since August last year due to the unpaid bills. 

In October, Adani warned that they would stop the power supply if the payment wasn‍‍`t made. Following through, in November, Adani shut down one of its production units. 

Bangladesh then paid part of the outstanding dues, but the full payment remains unsettled. The power plant, which is coal-powered, has a capacity of 1,600 megawatts.

Back on September 10, Gautam Adani, Chairman of Adani Group, wrote directly to Dr. Muhammad Yunus, the Chief Adviser of Bangladesh‍‍`s interim government, asking him to ensure the payments for the electricity supplied by Adani.

In his letter, Gautam Adani stated, 

"While we are keeping our promises to Bangladesh, our creditors are becoming increasingly strict. I kindly request you to intervene and ensure the $800 million owed by the Bangladesh Power Development Board is paid promptly."

He further added,

"I also request that the payments for the electricity provided be made on a regular basis."

Earlier reports revealed that Adani was owed around $800 million for supplying electricity to Bangladesh over the last eight to nine months. 

The power supply to Bangladesh began in June from the 1,600-megawatt coal-powered plant in Godda, Jharkhand, through a dedicated transmission line.

Gautam Adani also said in the letter, 

"Adani Power has invested $2 billion to build a modern power plant and the necessary transmission system. I reaffirm our commitment to helping your country secure its energy needs and improve infrastructure."