Bangladesh looks to reduce power prices of Adani deal amid US indictment: Report
Trending News
1 month, 1 week ago

Bangladesh looks to reduce power prices of Adani deal amid US indictment: Report

Hindustan Times  

Bangladesh is reportedly looking to renegotiate much lower prices for electricity it purchases from the Adani Group as it tries to reduce its expenditure for subsidising the expensive electricity for the public. This is unless a Bangladesh court completely cancels the 25-year deal signed in 2017 with Adani Power for getting coal-fired power from a $2 billion plant in eastern India This is unless a Bangladesh court completely cancels the 25-year deal signed in 2017 with Adani Power for getting coal-fired electricity from a $2 billion plant in eastern India, according to a report by news agency Reuters. The government wants lower prices because Adani charged the highest rate for Indian power to Bangladesh at 14.02 taka a unit compared to the 8.77 taka average price during the financial year 2022-23. This also comes in the middle of the High Court calling for an investigation into the 25-year deal signed in 2017 with Adani Power for getting coal-fired power from a $2 billion plant in eastern India, according to the report which cited Bangladesh's energy minister. Cancel only in case of irregularities such as corruption and bribery," the report quoted Muhammad Fouzul Kabir Khan, Bangladesh's power and energy adviser, as saying in an interview.

India Bangladesh Power Report Adani Eastern India  report  taka  read  indictment  amid  looks  bangladesh  prices  plant  signed  billion  deal  power  adani  reduce

History of this topic

Bangladesh accuses Adani Power of breaching multi-billion-dollar energy deal: Report
3 weeks, 2 days ago

Bangladesh accuses Adani Power of breaching multi-billion-dollar energy deal: Report

Live Mint  

Bangladesh's interim government has accused energy supplier Adani Power of breaching a multi-billion-dollar agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters. Bangladesh's de facto power minister Muhammad Fouzul Kabir Khan told Reuters the country now had enough domestic capacity to cope without the Adani supply, …

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal
3 weeks, 2 days ago

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

Deccan Chronicle  

Dhaka: Bangladesh's interim government has accused energy supplier Adani Power of breaching a multi-billion-dollar agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters. Bangladesh's de facto power minister Muhammad Fouzul Kabir Khan told Reuters the country now had enough domestic capacity to cope without the Adani …

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal
3 weeks, 2 days ago

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

The Hindu  

Bangladesh’s interim government has accused energy supplier Adani Power of breaching a multi-billion-dollar agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters. Adani Group has called the U.S. allegations “baseless.” Tax Exemptions Adani Power’s Godda plant runs off imported coal and was built to serve Bangladesh. …

Adani-Andhra Deal Approved Against Officials' Advice, Under Bribery Scrutiny
3 weeks, 4 days ago

Adani-Andhra Deal Approved Against Officials' Advice, Under Bribery Scrutiny

Deccan Chronicle  

The approach from the Solar Energy Corporation of India on Sept. 15, 2021 came out of the blue. The federal agency, tasked with developing the solar sector, wanted to know if the southeastern state of Andhra Pradesh would like to sign India's largest renewables contract.Two years earlier, Andhra Pradesh's energy regulator had said in a 10-year forecast the state had …

Bangladesh cuts power imports from Adani Power by half amid payment disputes, bribery charges, forex crisis
1 month, 1 week ago

Bangladesh cuts power imports from Adani Power by half amid payment disputes, bribery charges, forex crisis

Live Mint  

Bangladesh has slashed its electricity imports from India’s Adani Power by half, citing reduced winter demand and unresolved payment issues amounting to hundreds of millions of dollars, according to government officials, as reported by Reuters. Adani Power reduced its supply on October 31, citing delayed payments from Bangladesh, grappling with a foreign exchange crisis. High Costs Under Scrutiny Adani’s power …

Bangladesh halves power buying from Adani Power amid payment dispute
Top News
1 month, 1 week ago

Bangladesh halves power buying from Adani Power amid payment dispute

Hindustan Times  

Bangladesh has halved the power it buys from neighbouring India's Adani Power, citing lower winter demand, amid disagreements over dues running into hundreds of millions of dollars, government officials told Reuters on Monday. Amid disputes over payments totalling hundreds of millions of dollars, government officials told Reuters on Monday that Bangladesh has cut in half the amount of electricity it …

Bangladesh halves power buying from Adani citing low winter demand: Report
1 month, 1 week ago

Bangladesh halves power buying from Adani citing low winter demand: Report

India Today  

Bangladesh has halved the power it buys from Adani Power, citing lower winter demand, government officials told Reuters on Monday, amid disagreements over dues running into hundreds of millions of dollars. Subsequently, Bangladesh told Adani to keep supplying only half the power for now, officials said, although it will keep paying its old dues. An Adani Power spokesperson said the …

Bangladesh halves power buying from Adani amid payment dispute
1 month, 1 week ago

Bangladesh halves power buying from Adani amid payment dispute

The Hindu  

Bangladesh has halved the power it buys from Adani Power, citing lower winter demand, government officials told Reuters on Monday, amid disagreements over dues running into hundreds of millions of dollars. Subsequently Bangladesh told Adani to keep supplying only half the power for now, officials said, although it will keep paying its old dues. An Adani Power spokesperson said the …

India’s Adani says his group is committed to compliance after US bribery and fraud charges
1 month, 1 week ago

India’s Adani says his group is committed to compliance after US bribery and fraud charges

Associated Press  

NEW DELHI — Indian tycoon Gautam Adani said his conglomerate is committed to “world-class regulatory compliance” after being indicted in the U.S. on fraud charges and an alleged bribery scheme worth millions of dollars, his first remarks since the accusations surfaced. And every obstacle becomes a stepping stone for a more resilient Adani Group,” Adani said late Saturday at an …

Adani allegations shine spotlight on India’s clean energy conundrum
1 month, 2 weeks ago

Adani allegations shine spotlight on India’s clean energy conundrum

The Hindu  

Published : Nov 28, 2024 11:22 IST - 4 MINS READ Bribery allegations against the Adani Group founder Gautam Adani have highlighted the growing problem India’s renewable energy developers face in finding buyers for the power they generate. The challenges were stark in the case of Adani Green, India’s largest renewable energy company, which took over three years to strike …

Bangladesh seeks to review major energy projects including one with Adani Group
1 month, 2 weeks ago

Bangladesh seeks to review major energy projects including one with Adani Group

The Hindu  

A review committee formed by Bangladesh’s interim government on Sunday recommended engaging an investigation agency to examine power agreements signed by deposed prime minister Sheikh Hasina’s regime with different business groups, including one with India’s Adani Group. “The National Review Committee on Ministry of Power, Energy and Mineral Resources has recommended the appointment of a reputed legal and investigation agency …

Bangladesh seeks review of power deals by Sheikh Hasina, including one with Adani Group
1 month, 2 weeks ago

Bangladesh seeks review of power deals by Sheikh Hasina, including one with Adani Group

Hindustan Times  

A review committee under the Bangladesh power ministry suggested investigating bilateral power purchase agreements signed by exiled former Prime Minister Sheikh Hasina with different business conglomerates, including India's Adani Group, news agency PTI reported. The interim government, headed by Chief Adviser Muhammad Yunus, had formed a committee to review power purchase contracts signed under the Quick Enhancement of Electricity and …

Bangladesh to review Hasina-era energy deals, including one with India’s Adani Group
1 month, 2 weeks ago

Bangladesh to review Hasina-era energy deals, including one with India’s Adani Group

Firstpost  

The Adani Group, however, recently sent a letter to the Bangladesh government over its unpaid USD 800 million power supply bill while Bangladesh’s state-run Power Development Board said they had already paid USD 150 million despite its dollar crisis and was expecting to pay the full amount. Bangladesh’s interim government review committee has recommended an investigation into power agreements signed …

Bangladesh seeks to review energy deal with Adani Group signed during Sheikh Hasina reign
1 month, 2 weeks ago

Bangladesh seeks to review energy deal with Adani Group signed during Sheikh Hasina reign

India Today  

A review committee formed by Bangladesh's interim government on Sunday recommended engaging an investigation agency to examine power agreements signed by deposed Prime Minister Sheikh Hasina’s regime with different business groups, including one with Adani Group. "The National Review Committee on the Ministry of Power, Energy and Mineral Resources has recommended the appointment of a reputed legal and investigation agency …

After U.S. indictment, Adani Group will face greater pressure in Bangladesh over power deal, says expert
1 month, 2 weeks ago

After U.S. indictment, Adani Group will face greater pressure in Bangladesh over power deal, says expert

The Hindu  

Indictment of Gautam Adani and several top officials of the Adani conglomerate in the U.S. may become a factor in future negotiations between the Adani Group and the interim government in Bangladesh, energy experts in Dhaka have said. But after the U.S. indictment, that space of dialogue may shrink as the group is likely to face greater pressure from Bangladesh …

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts: Report
1 month, 3 weeks ago

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts: Report

Live Mint  

Bangladesh's High Court ordered the formation of a high-level enquiry committee comprising international energy and law experts to reevaluate all electricity-related agreements with the Adani group, The Business Standard, a local news portal, reported on Tuesday, November 19. Adani signed the 25-year power purchase agreement in 2017; at that time, no imported coal-based power plants were operational in Bangladesh, as …

Adani group lifts threat to cut power to Bangladesh under new repayment terms. But readies a backup.
2 months ago

Adani group lifts threat to cut power to Bangladesh under new repayment terms. But readies a backup.

Live Mint  

Mumbai: Following intense negotiations over five days, the Adani group lifted a crucial power supply deadline imposed on the Bangladesh government after the crisis-hit nation conceded fresh repayment terms for dues worth about ₹7,500 crore. Adani group had set a 7 November deadline for the neighbouring country’s government to either clear the dues or face a power cut that could …

Bangladesh stares at outages as Adani Power steps up pressure on Yunus-led govt over $850 mn in unpaid dues
2 months ago

Bangladesh stares at outages as Adani Power steps up pressure on Yunus-led govt over $850 mn in unpaid dues

Live Mint  

Adani Power Ltd is stepping up pressure on Bangladesh as it seeks to recover more than $850 million of unpaid electricity bills, said a report by news agency Bloomberg. Bangladesh’s current administration, led by Nobel laureate Muhammad Yunus, is expediting payments to Adani Power, Shafiqul Alam, a government spokesman, told reporters in Dhaka on Sunday. It won’t be “hostage to …

'Rigged deal': Congress attacks Mahayuti government over Adani winning bid to supply power to Maharashtra
3 months, 3 weeks ago

'Rigged deal': Congress attacks Mahayuti government over Adani winning bid to supply power to Maharashtra

The Hindu  

With the Adani Group winning a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra, the Congress on Sunday alleged that it was a "rigged deal" facilitated by the Mahayuti government, which it claimed was "tottering towards a landslide defeat" in the upcoming assembly polls. The opposition party's attack came after the Adani Group won a …

Bangladesh's Interim Govt To Review Adani Power Deal And Other Indian Agreements: Report
3 months, 4 weeks ago

Bangladesh's Interim Govt To Review Adani Power Deal And Other Indian Agreements: Report

ABP News  

Indian businesses operating in Bangladesh, including Adani Group, are facing increased scrutiny from the interim government led by Muhammad Yunus, according to a report by The Indian Express. In addition to Adani Power, other Indian firms such as PTC India, NVVL Ltd, and Semcorp Energy India are involved in power supply to Bangladesh. Currently, Indian firms charge an average power …

'Unsustainable': Adani Group warns Bangladesh over $500 million in unpaid power dues
4 months ago

'Unsustainable': Adani Group warns Bangladesh over $500 million in unpaid power dues

India Today  

The Adani Group, led by billionaire Gautam Adani, has issued a serious warning to Bangladesh’s interim government about a significant backlog of unpaid dues related to a major power project. The Financial Times reports that Bangladesh currently owes $500 million to Adani, a situation the company deems "unsustainable." It may be noted that Yunus’s government has been vocal about the …

A change in India’s power export rules | Explained
4 months, 3 weeks ago

A change in India’s power export rules | Explained

The Hindu  

The story so far: On August 14, Reuters reported on the introduction of an amendment to India’s power export rules. In a statement on July 15 last year, Adani Power stated that the electricity supplied from Godda will have a positive impact on the neighbour’s power situation by replacing costly power generated using liquid fuel. As per the Bangladesh Power …

Adani Power's Godda Plant Gets Green Light To Supply Indian Market Amid Bangladesh Unrest
4 months, 3 weeks ago

Adani Power's Godda Plant Gets Green Light To Supply Indian Market Amid Bangladesh Unrest

ABP News  

Adani Power’s 1,600 MW coal-fired Godda power plant in Jharkhand, previously dedicated to supplying electricity exclusively to Bangladesh, can now divert output to India, following a significant amendment to the country's power export rules, according to a report by Reuters. An internal memo from India's federal power ministry, dated August 12 and seen by the news agency, revises 2018 guidelines …

Adani now allowed to sell Bangladesh-bound power in India
4 months, 4 weeks ago

Adani now allowed to sell Bangladesh-bound power in India

The Hindu  

An Adani Power coal-fired power plant under contract to sell all its output to Bangladesh can now supply the domestic market after an amendment to India's power export rules, helping the company hedge against political risks in Bangladesh. An internal federal power ministry memo, dated Aug. 12 and seen by Reuters, amends 2018 guidelines governing generators supplying electricity "exclusively to …

Adani Power share price jumps 5% for 2nd consecutive day: What's happening?
9 months, 1 week ago

Adani Power share price jumps 5% for 2nd consecutive day: What's happening?

Hindustan Times  

Adani Power share price: Adani Power share price hit 5 per cent upper circuit for the second consecutive session today. Adani Power share price jumped 5 per cent to hit its upper price band. Adani Energy climbed over 8 per cent on April 1 while shares of Adani Energy Solutions jumped 8.40 per cent, NDTV zoomed 6.16 per cent, Adani …

India, Bangladesh discuss Taka-Rupee exchange system, connectivity & infrastructure projects
1 year, 5 months ago

India, Bangladesh discuss Taka-Rupee exchange system, connectivity & infrastructure projects

Firstpost  

Bangladesh and India last week launched a trade transaction in local currency in their bid to reduce dependence on the US dollar and strengthen regional currency and trade. A senior official said on Tuesday that Bangladesh is set to launch three major infrastructure projects, including a power plant, under India’s financial assistance in September. Indian High Commissioner in Dhaka Pranay …

Adani Ports, Adani Ent share price gain over 2-3%; Here’s why
1 year, 5 months ago

Adani Ports, Adani Ent share price gain over 2-3%; Here’s why

Live Mint  

Adani Group stocks gained around 2% to 3% each on Monday, with Adani Enterprises share price rallying over 3%. The Adani Group on July 15 announced the commissioning of India’s first transnational project at Godda in Jharkhand to supply power to the Bangladesh electricity grid. Gautam Adani, Chairman of Adani Group, called on Bangladesh Prime Minister Sheikh Hasina in Dhaka …

Adani meets Sheikh Hasina as Godda plant begins power export to Bangladesh
1 year, 5 months ago

Adani meets Sheikh Hasina as Godda plant begins power export to Bangladesh

The Hindu  

Industrialist Gautam Adani on Saturday met Bangladesh Prime Minister Sheikh Hasina as the Adani-built Godda Ultra Super-Critical Thermal Power Plant in Jharkhand began supplying electricity to Bangladesh. “Honoured to have met Bangladesh PM Sheikh Hasina on full load commencement and handover of the 1600 MW Ultra Super-Critical Godda Power Plant. Adani Power Jharkhand Ltd, a wholly owned subsidiary of Adani …

Adani Power begins electricity supply from Jharkhand plant to Bangladesh
1 year, 9 months ago

Adani Power begins electricity supply from Jharkhand plant to Bangladesh

Hindustan Times  

Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh. Adani Power Ltd, a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The electricity supplied from Godda will significantly improve the situation in the neighbouring country as …

Adani Power starts electricity supply to Bangladesh from Godda plant
1 year, 9 months ago

Adani Power starts electricity supply to Bangladesh from Godda plant

Live Mint  

Billionaire Gautam Adani-led Adani Power on 9 April said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh. According to the company statement, Adani Power Ltd has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. Among other things, APL said that it is the first power plant in …

Adani Power’s Jharkhand unit begins operations, to supply power to Bangladesh
1 year, 9 months ago

Adani Power’s Jharkhand unit begins operations, to supply power to Bangladesh

Live Mint  

Mumbai: Adani Power Ltd, part of billionaire Gautam Adani's group of companies, on Friday said that its power plant in Jharkhand has begun commercial operations. The facility is part of the 2x800 MW ultra-supercritical power project of Adani Power Ltd, according to an exchange filing. APJL, a wholly-owned subsidiary of Adani Power, has a 25-year power purchase agreement to supply …

Bangladesh in hot seat over Adani’s power deal
1 year, 9 months ago

Bangladesh in hot seat over Adani’s power deal

Al Jazeera  

Bangladesh’s opposition has jumped on the recent controversy over the Indian tycoon to demand cancelling the power deal. Built by Adani Power Ltd – India’s largest private power company founded by Gautam Adani – the $1.7bn Godda plant in India’s Jharkhand state has drawn flak in Dhaka for the “lopsided nature” of the power purchase agreement that a number of …

No Issues With $4.5 Bn Adani Power Project, It’s 'Very Important' And 'Progressing': Bangladesh Minister In India
1 year, 10 months ago

No Issues With $4.5 Bn Adani Power Project, It’s 'Very Important' And 'Progressing': Bangladesh Minister In India

ABP News  

New Delhi: Bangladesh has said that the country is going ahead with the $4.5 billion Adani Power Project as it does not have “any issues” with the Indian conglomerate and that it is an “important project” of Bangladesh. The deal also entailed the construction of a $1.7 billion power manufacturing unit in Jharkhand’s Godda district for supplying power to Bangladesh. …

Adani saga worries India’s neighbourhood
1 year, 11 months ago

Adani saga worries India’s neighbourhood

The Hindu  

Caught between a row over the price of coal and this week’s crash in its share valuations and credit ratings, the Adani Power project planned as a major Indian infrastructure push to provide electricity to Bangladesh may be delayed by another six months, local reports said. However, with the group’s slide in fortunes and the cancellation of the Adani Enterprises …

Adani power plant in Jharkhand | Setback to a project not reflection of policy for neighbourhood: India
1 year, 11 months ago

Adani power plant in Jharkhand | Setback to a project not reflection of policy for neighbourhood: India

The Hindu  

A setback to a power or connectivity project with India’s neighbours will not deter India from carrying out its “neighbourhood first” strategy, the official spokesperson of the Ministry of External Affairs said on Thursday. His remarks came in the wake of reports that the government of Bangladesh has asked India’s troubled Adani group to revise its power purchase agreement to …

Bangladesh asks Adani Power to revisit 2017 pact over ‘excessive’ pricing: Report
1 year, 11 months ago

Bangladesh asks Adani Power to revisit 2017 pact over ‘excessive’ pricing: Report

Hindustan Times  

NEW DELHI: Authorities in Bangladesh have sought a revision of an agreement with Adani Power Ltd for importing electricity from a thermal power plant in Jharkhand over the “excessive” pricing of coal, according to a Bangladeshi media report. Electric power transmission pylon miniatures and Adani Green Energy logo are seen in this illustration The Bangladesh Power Development Board signed a …

Govt allocation helps Adani Gas cut prices of PNG and CNG. Details here
2 years, 4 months ago

Govt allocation helps Adani Gas cut prices of PNG and CNG. Details here

Hindustan Times  

Adani Total Gas has cut the prices for domestic PNG or piped natural gas by up to ₹3.20 per standard cubic metre, while CNG or compressed natural gas price has been brought down by ₹4.7 per kg. PNG or piped natural gas by up to ₹ 3.20 per standard cubic metre and CNG or compressed natural gas price has been …

Andhra Pradesh cancels Adani bids to supply imported coal
2 years, 9 months ago

Andhra Pradesh cancels Adani bids to supply imported coal

Live Mint  

India's southern Andhra Pradesh has cancelled bids made for two separate tenders by India's Adani Enterprises to supply imported coal as the prices quoted were too high, two state government officials told Reuters. Adani, India's largest coal trader, offered to supply last month 500,000 tonnes of South African coal at 40,000 rupees per tonne and another 750,000 tonnes at 17,480 …

LDF government misleading people over purchase of power from Adani group: Chennithala
3 years, 9 months ago

LDF government misleading people over purchase of power from Adani group: Chennithala

The Hindu  

Continuing his tirade against the Left Democratic Front government over its purchase of power from the Adani group, Leader of Opposition Ramesh Chennithala on April 3 said that the government was misleading the people of the State. Mr. Chennithala alleged that apart from purchasing power from the Adani group through the deal brokered by the Solar Energy Corporation of India, …

Discover Related