Bangladesh has paid $384 million to Adani Power in June, settling a major part of its outstanding dues under a power supply agreement signed in 2017. According to sources, this payment covers the “admitted” dues till March 31, out of a committed $437 million scheduled for June. If the full month-end payment is met, Adani’s remaining “claimed” dues will reduce to about $500 million.
Bangladesh has struggled with these payments since 2022 due to rising import costs following the Russia-Ukraine war and internal political instability. These financial pressures led to the ousting of Prime Minister Sheikh Hasina in August 2024 and the rise of an interim government led by Nobel Peace Prize winner Muhammad Yunus.
Under the 2017 deal, Adani Power’s Godda plant in Jharkhand was to supply all its electricity to Bangladesh for 25 years. However, due to payment defaults, Adani reduced power supply by half in November 2024. Full supply of around 1,600 MW resumed in March 2025 when Bangladesh started clearing monthly dues.
So far, Bangladesh has paid nearly $1.5 billion of the approximately $2 billion billed. Adani has reportedly agreed to waive late payment surcharge of around $20 million for January to June if Bangladesh stays on track with payments.
Talks are ongoing between both parties to resolve issues related to coal costs and plant capacity calculations. These are the main reasons for differences between “claimed” and “admitted” dues.
The original agreement signed during Sheikh Hasina’s tenure is under scrutiny by the interim government, which has formed a committee of legal and energy experts to review the power purchase terms. The deal is one of several Indian power agreements now being reviewed for transparency.
Bangladesh’s foreign reserves have been under pressure due to rising energy costs, declining dollar revenue, and widespread student-led protests. In response, the interim government has approached the International Monetary Fund for an additional $3 billion loan on top of an existing $4.7 billion bailout.
Besides Adani Power, other Indian firms such as NTPC and PTC India Ltd also supply power to Bangladesh under similar long-term agreements.
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