Bangladesh will be dark! Adani's warning - Pay the bill...
Adani Power has cut the power supply to bangladesh, the main reason for which is non-payment of dues. The company has clarified that if the dues are not settled by november 7, the power supply will be completely stopped. According to the information, Adani's dues on Bangladesh are currently around $ 850 million. This is a serious situation, as bangladesh is facing a power crisis and it can have many adverse effects on its economy.
Adani Power had earlier asked the bangladesh Power Development Board (BPDB) to pay the dues by october 31 and issue a letter of credit (LC) of $ 170 million (about Rs 1,500 crore), but BPDB tried to issue the LC through Krishi bank which was not according to the terms of the power purchase agreement. According to sources, the shortage of dollars in bangladesh has also become a major reason for this problem. This is a serious challenge not only for adani but also for Bangladesh.
Bangladesh struggling with power shortage!
Adani Power jharkhand reduced power supply from october 31, which has further increased the power crisis in Bangladesh. According to a recent report released on the website of Power Grid bangladesh (PGB), Adani's Godda plant supplied only 724 MW of power while its installed capacity is 1,496 MW. According to the information, other plants like Rampal and SS Power are already working at half capacity due to shortage of coal. It is believed that the reduction in power generation can further worsen the economic condition of the country.
Adani Power had to take this step under compulsion
It is being told that adani Power had to take this step under compulsion due to delay and uncertainty in payment from Bangladesh. If adani stops its power supply, it will negatively affect the commerciality of the Godda plant as bangladesh is its only customer. adani Power has said that their one month bill is around 90-100 million dollars. If we talk about its one year revenue, it will be around 1.1 billion dollars (more than 9,000 crore rupees).
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