Thursday, 21 November, 2024
India's Adani Power has further slashed electricity supply to neighboring Bangladesh as it seeks to recover over $800 million in unpaid dues, according to data from Bangladesh's grid operator and sources familiar with the matter.
Adani Power, which supplies energy to Dhaka from its dedicated 1,600 megawatt (MW) Godda plant in Jharkhand, eastern India, had already reduced supply this month to 700 MW-750 MW, down from approximately 1,400-1,500 MW in early August.
On Thursday evening, the supply was cut further to around 520 MW, as indicated by Power Grid Bangladesh data and a Bangladesh Power Development Board (BPDB) official.
"We are gradually paying the dues and will take alternative measures if anyone stops the supply. We will not let any power producer hold us hostage," Muhammad Fauzul Kabir Khan, power and energy advisor in Bangladesh's caretaker government, told Reuters on Thursday.
Bangladesh continues to get a reduced supply even though it has expedited the payment of dues and a Nov 7 payment deadline by Adani had been lifted, the BPDB official said.
Reuters reported this week that the troubled South Asian country had opened a letter of credit for $170 million for Adani and was accelerating payments.
Adani Power did not respond to queries from Reuters on the reduction in power supply and details of payments made by Dhaka.
The power supply has been gradually reduced based on demand from Bangladesh as well as keeping payment dues in mind, a source at Adani Power told Reuters.
The Bangladeshi board and Adani Power officials spoke on condition of anonymity as they are not authorised to speak to the media.
Bangladesh has been grappling with payment difficulties since Russia's invasion of Ukraine in 2022, which triggered a surge in fuel and goods import costs. The situation has been further exacerbated by the political turmoil following the ouster of Prime Minister Sheikh Hasina in August.
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India's Adani Power has further slashed electricity supply to neighboring Bangladesh as it seeks to recover over $800 million in unpaid dues, according to data from Bangladesh's grid operator and sources familiar with the matter.
Adani Power, which supplies energy to Dhaka from its dedicated 1,600 megawatt (MW) Godda plant in Jharkhand, eastern India, had already reduced supply this month to 700 MW-750 MW, down from approximately 1,400-1,500 MW in early August.
On Thursday evening, the supply was cut further to around 520 MW, as indicated by Power Grid Bangladesh data and a Bangladesh Power Development Board (BPDB) official.
"We are gradually paying the dues and will take alternative measures if anyone stops the supply. We will not let any power producer hold us hostage," Muhammad Fauzul Kabir Khan, power and energy advisor in Bangladesh's caretaker government, told Reuters on Thursday.
Bangladesh continues to get a reduced supply even though it has expedited the payment of dues and a Nov 7 payment deadline by Adani had been lifted, the BPDB official said.
Reuters reported this week that the troubled South Asian country had opened a letter of credit for $170 million for Adani and was accelerating payments.
Adani Power did not respond to queries from Reuters on the reduction in power supply and details of payments made by Dhaka.
The power supply has been gradually reduced based on demand from Bangladesh as well as keeping payment dues in mind, a source at Adani Power told Reuters.
The Bangladeshi board and Adani Power officials spoke on condition of anonymity as they are not authorised to speak to the media.
Bangladesh has been grappling with payment difficulties since Russia's invasion of Ukraine in 2022, which triggered a surge in fuel and goods import costs. The situation has been further exacerbated by the political turmoil following the ouster of Prime Minister Sheikh Hasina in August.
4o
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