Bangladesh's $173M Payment to Adani

Bangladesh issued a $173 million Letter of Credit (LC) to Adani Power for continued electricity supply amidst mounting dues and looming power cuts.

Adani's Demand for Additional Funds

Adani Power demanded an extra $15-20 million from BPDB to restart an 800 MW unit after cutting supply by half due to unpaid dues exceeding $843 million.

Long-term Power Agreement

Adani Power and BPDB's 25-year power purchase agreement (PPA), signed in 2015, covers 10% of Bangladesh's power needs with a capacity of 1,600 MW.

IMF Loan Eases Payment Issues

Bangladesh's IMF loan partly eased the $400 million in dues to Adani between July and October, helping maintain partial payments to the power producer.

Currency Reserves & Political Changes

Bangladesh's political turmoil and currency reserve issues have impacted timely payments to Adani Power, with monthly dues of $95-97 million pending.

Adani's Request for Receivables

Adani chairman Gautam Adani sought government intervention to release $850 million receivables, warning of power suspension without timely payments.