Gautam Adani gets Rs 37386407758 from Bangladesh due to...; asked to supply...

Indian billionaire Gautam Adani runs Adani Group, which is present in several sectors including power, ports and airports. The group not only supplies its services in India, but also in neighbouring countries. Now, for receiving a power supply from Adani Power, Bangladesh has paid its single largest payment of USD 437 million or Rs 3738 crore in June to the Adani firm. With this, Bangladesh has cleared its pending dues, including carrying costs, and issues related to the power purchase agreement, PTI reported, quoting sources. The country is now regular in payments. The Adani-led company currently has a market cap of Rs 2.28 lakh crore.

Bangladesh asks Adani Power to supply power

Since payment-related matters are resolved, Bangladesh has asked Adani Power to supply power from both units as per BPDB (Bangladesh Power Development Board) schedule, sources added. Additionally, an LC (Letter of Credit) worth about two months of billing and sovereign guarantee for all dues as additional security has been established, sources aware of the matter said. The LCs are worth about two months of billing and sovereign guarantee for all dues, as additional security has put Adani in a very comfortable situation.

Adani Power-Bangladesh deal

Under a 2017 deal, Adani Power's Godda power plant in Jharkhand was to supply 100 per cent of the electricity generated from burning coal to Bangladesh for a period of 25 years. After payment defaults, Adani had cut supplies by half in November 2024. It restored full electricity supply, which is around 1,600 MW, in March after the country reduced its liabilities.

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Adani Power 1600 MW plant in Godda

Adani Power supplies electricity to Bangladesh from a dedicated 1600 MW plant located in Godda district of Jharkhand, meeting 10 per cent of the country's power demand. The company supplies among the most competitively priced power to Bangladesh, as is evident from BPDB's merit order dispatch data, which is an essential requirement.

Bangladesh had in the past struggled to meet its payment obligations under the 2017 deal, as rising import costs -- following the Russia-Ukraine conflict in 2022 and domestic political turmoil, which led to the ouster of the prime minister -- strained the country's finances.

(With inputs from PTI)