Bangladesh has paid $384 million to Adani Power this month, significantly reducing its outstanding dues under a 2017 power supply agreement with the Indian company, according to sources.As of June 27, Bangladesh has paid $384 million of the committed $437 million scheduled for the month. Sources said this amount clears the country’s “admitted” dues till March 31, though “claimed” dues by Adani remain about $500 million—provided Bangladesh completes its June-end payment commitment, PTI reported.The payments come amid Dhaka’s ongoing struggle to meet obligations under the 25-year power supply pact signed during the tenure of former Prime Minister Sheikh Hasina. The agreement had come under strain after rising import bills—exacerbated by the Russia-Ukraine war—and a severe dollar crunch triggered by months of political turmoil that led to Hasina’s ouster in August 2024.In response to mounting unpaid bills, Adani Power halved electricity supply to Bangladesh in November 2024. Full supply from its 1,600 MW Godda plant in Jharkhand resumed in March 2025 after Bangladesh resumed monthly payments.With the latest tranche, Bangladesh has paid nearly $1.5 billion of the total $2 billion billed so far. Adani has reportedly agreed to waive late payment surcharges for January to June 2025, amounting to $20 million, contingent on timely future payments.However, differences remain between Adani’s “claimed” and Bangladesh’s “admitted” dues—primarily due to disagreements over coal costs and plant capacity calculations. A spokesperson for Adani Power confirmed the June payments but declined to comment on outstanding disputes, calling the discussions private.The 2017 deal has faced renewed scrutiny under Bangladesh’s interim government led by Nobel laureate Muhammad Yunus. The administration has initiated a review of several power purchase agreements, including Adani’s, through a committee comprising energy and legal experts.Adani’s contract involves supplying the entire output from its coal-based Godda plant to Bangladesh. Following payment defaults, Adani had reduced supply by half in late 2024 but resumed full exports after partial liability clearance, the report said.Bangladesh’s financial crunch, driven by reduced forex reserves and growing import bills for energy, had resulted in widespread power outages last year. The country has since been repaying monthly dues and recently sought an additional $3 billion from the International Monetary Fund (IMF), atop an earlier $4.7 billion bailout package.Adani Power is among several Indian firms selling electricity to Bangladesh. Others include state-run NTPC and PTC India Ltd. The interim government has labelled several Hasina-era power deals “opaque” and is in the process of evaluating their long-term financial and legal implications.
