Bangladesh halves power buying from India's Adani amid payment dispute
- Bangladesh has reduced its power purchase from India's Adani Power by half due to lower winter demand and payment disputes, according to government officials.
- Bangladesh currently owes Adani Power approximately $650 million, having paid $85 million last month and $97 million in October.
- The Bangladesh High Court has ordered an investigation into Adani's contract, prompting calls for renegotiation or cancellation of the 25-year agreement due to high costs and anomalies.
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Adani Power: Under Sheikh Hasina, a deal was signed to buy electricity from the Adani people in Bangladesh.
The government of Bangladesh, which is facing a shortage of foreign currency, has taken a big decision and has reduced the amount of electricity purchased from Indian billionaire Gautam Adani's company by half.
Bangladesh halves power buying from Adani citing low winter demand: Report
Adani has been supplying power to Bangladesh under a 25-year contract signed in 2017 under ousted Prime Minister Sheikh Hasina, from a $2-billion power plant in Jharkhand that has two units, each with capacity of about 800 megawatts.
Adani entities apply for settlement in response to Sebi show cause notice
Entities linked to Adani Group have sought a settlement with Sebi over alleged public shareholding norm violations. They filed settlement applications following a show cause notice from Sebi. These actions involve key figures, including Vinod Adani, and four listed companies: Adani Enterprises, Adani Power, Adani Ports, and Adani Energy Solutions. Sebi's investigation dates back to 2020.
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