Bangladesh Wins Back Adani Power’s Confidence as Dues Narrow Down Significantly

Billionaire Gautam Adani-led Adani Power is hopeful about recovering dues from Bangladesh related to the power supply agreement signed in 2017. Although the neighbouring country still has pending dues worth $900 million, it has significantly narrowed down the liabilities, Reuters reported. This comes months after the port-to-power conglomerate struggled to recover dues from the financially troubled neighbouring country. 

“We are supplying full power to Bangladesh...the payment we are receiving now is more than the monthly billing...We are hopeful that not only will we continue to receive payments equivalent to the current month’s billing, but that the old outstanding dues will also be liquidated,” said Adani Power’s Chief Financial Officer (CFO) Dilip Jha in a post-earnings call on May 1.

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Bangladesh has paid dues of around $1.2 billion of the total $2 billion, Adani Power reportedly said in a statement. 

The 2017 power supply deal between Adani Power and Bangladesh garnered much attention last year, especially after the Sheikh Hasina-led government was ousted and the new regime took over. The Bangladesh interim government, led by Nobel Peace prize laureate Muhammad Yunus, had called for the formation of a high-level committee, comprising energy and legal experts, to re-examine the power purchase agreement (PPA). 

The Adani Group had built the Godda electricity plant in Jharkhand and 100% of the power generated by it had to be supplied to Bangladesh under the 2017 agreement for a period of 25 years. 

Following the failure of the country to pay back dues, the Adani Group had cut half of the power supplied by it in November 2024. Recently in March, Bloomberg reported that Adani Power has restored full electricity supply, which is around 1,600 MW, as the country reduced liabilities. 

“We’re making regular payments to Adani and receiving power as per our requirements,” chairman of the Bangladesh Power Development Board, Rezaul Karim told Bloomberg.