Adani Power will fully restore the 1600 MW power supply to her Jharkhand factory in Bangladesh, but she rejected DACCA request from discounts and tax advantages, Reuters reported, citing sources. Restoration follows a request from the Bangladesh Power Development Board (BPDB) in the middle of the growing summer request.
Although he agrees to resume the full offer, Adani Power has reduced BPDB requests for discounts and concessions that are potentially worth millions of dollars. Bangladesh owes Adani about $ 650 million, although the company’s sources estimate that pending contributions have reached nearly $ 900 million.
The $ 2 billion factory in Jharkhand, which operates under a 25 -year -old electricity purchase agreement signed in 2017, had reduced the offer on October 31 due to late payments. Since November 1, the installation has been operating at a minimum capacity, with an offline unit and no confirmed chronology for a full restoration. A document evaluated by Reuters revealed that the factory only operated at only 41.82% the capacity last month, its lowest level of this year.
Adani Power had sent a letter on October 27, warning BPDB that if the payments were not made, it would suspend the power supply on October 31 in accordance with the terms of the electricity purchase agreement. Payments of $ 85 million in November and $ 97 million in October only marginally the outstanding balance.
The company stressed that BPDB did not provide a letter of credit (LC) of $ 170.03 million from Bangladesh Krishi Bank and has not authorized the accumulated contributions of $ 846 million. In winter, Bangladesh had imported around 1,000 MW per month of the Adani factory. The full supply should resume next week, it remains uncertain how unpaid contributions will affect the long -term power arrangement between the two parties.
