Bangladesh clears pending dues of Adani Power

Bangladesh made its single largest payment of USD 437 million in June, clearing pending dues, including carrying costs, and issues related to the power purchase agreement, reaffirming the Indian conglomerate’s asset as a reliable and cost-competitive power source for meeting the country’s growing energy needs, sources said.

Bangladesh is now regular in payments. 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.

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, they added. Sources said Bangladesh has resolved Adani Power’s dues, including the carrying cost. Over the last 3-4 months, the country has been paying USD 90-100 million per month, and in June, it paid USD 437 million.