Adani Power will reportedly supply electricity to Bangladesh at a reduced price. Earlier, Bangladesh had signed power purchase agreement (PPA) with Adani Power for importing electricity from its thermal power plant in Jharkhand.
New Delhi: Adani Power will reportedly supply electricity to Bangladesh at a reduced price. Earlier, Bangladesh Power Development Board (BPDB), the state-run power development board, had reportedly asked for a revision of the power purchase agreement (PPA) it signed with Adani Power for importing electricity from its thermal power plant in Jharkhand.
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“The Adani will import the coal for its plants at the same price the Bangladeshi coal-run plants do for themselves,” an Adani official was quoted as saying by the mass-circulation Bangladesh-based Prothom Alo newspaper, according to news agency PTI.
“A responsible official of Adani group in Bangladesh has confirmed the development to Prothom Alo,” the newspaper reported while Bangladesh officials declined to comment immediately.
Bangladesh’s state-run Power Development Board (PDB) earlier this month sought to revise to a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive.
A senior PDB official on Thursday, however, briefly said Adani Power sent a five-member delegation for negotiation with Bangladeshi officials as the “high coal price” to be purchased for the Adani plant at India’s Jharkhand emerged as the key factor for the dispute.
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Bangladesh had reportedly sought the price revision after it received a request from Adani Power in relation to opening LCs in India to import the coal for the 1,600 MW plant in the Godda district of Jharkhand.
Adani Power requires a demand note from Bangladesh that will be presented to Indian authorities before opening LCs against the coal import as their plant is meant for exporting power to the neighbouring country.
Bangladesh currently imports 1,160MW of electricity from India while the 2017 agreement it is supposed to buy electricity from Adani Power Ltd for 25 years and start getting electricity from March this year.
Meanwhile, Adani Group’s share prices has lately been affected and caused massive loss to investors following fraud allegations against the company by the Hindenburg reearch report.
