Bangladesh urges Adani Group to restore full power supply from Jharkhand plant

The Bangladesh government has urged Adani Power to fully restore power supply to the country from its plant in Jharkhand’s Godda district, Reuters reported on Tuesday.

Shares of Adani Power rose by 4.2% in early trading on Tuesday on the heels of this development, reaching a high of Rs 511.85 for the day on the Bombay Stock Exchange.

Adani Power exports electricity to Bangladesh from its 1,600-megawatt plant in Godda under an agreement signed in 2017. The plant comprises two units with a capacity of 800 megawatts each.

On October 31, the Adani Group company halved its supply on account of delayed payments triggered by a shortage of foreign exchange in Bangladesh. The company on November 1 closed one of its units in Godda, leaving the plant operating at a capacity of about 42%.

Dhaka subsequently asked Adani Power to continue supplying only the electricity from the lone operating unit at the Godda plant.

However, the government-run Bangladesh Power Development Board has now asked the firm to resume supplies from the second unit. It said it had been paying $85 million per month, or Rs 737.4 crore, to the Adani Group to settle outstanding dues, Reuters reported.

“We are trying to pay more, and our intention is to reduce the overdue,” said Rezaul Karim, the chairperson of the…

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