Bangladesh is all set to review energy deals with India’s Adani group. Bangladesh owes the Adani Group $800 million in unpaid power dues.
A review committee formed by Bangladesh’s interim government on Sunday recommended to review of its major energy deals signed with the Adani Group under former Prime Minister Sheikh Hasina.
An official statement by Bangladesh’s interim government said:
“The National Review Committee on Ministry of Power, Energy and Mineral Resources has recommended the appointment of a reputed legal and investigation agency to review the major power production agreements signed during the autocratic regime of Sheikh Hasina from 2009 to 2024.”
Here is the copy of the above-said statement below.
Chief Adviser Muhammad Yunus’s office issued the statement saying the committee was currently reviewing seven major energy and power projects, including the Adani (Godda) BIFPCL 1234.4 MW coal-fired plant, a wholly owned subsidiary of Adani Power Limited.
Earlier last month the Adani Group had informed Bangladesh’s government of an unpaid $800 million power supply bill.
Following the same, the Bangladesh Bangladesh’s state-run Power Development Board claimed that it had already paid $150 million and plans to settle the outstanding amount.
Meanwhile X (formally Twitter) has gone crazy over the news.
Adani Godda plant supplies ~10% of Bangladesh at prices comparable to India
Crucially this is all 440 KV high quality industrial supply that boosts productivity 5-6%
Plant is in Jharkhand. If B’desh doesn’t, someone else buys – its 0.3% of Ind’s consumption.
Dems going crazy. https://t.co/vy0CLbXhrE
— Lohit | लोहित | لوہیت (@RedLohit) November 24, 2024
Some even claimed that Bangladesh is going to default Adani Power’s payment.
Bangladesh will cancel PPA.
Then default on 700 million USD current outstanding.
Adani will take them to international arbitration.
And win the case.
Meanwhile Adani will be let off by US SEC— Prachanda (@lawzfinance) November 24, 2024
With input from PTI