Bangladesh fast tracks payment to Adani Power after supply cut

Payment dues to ani: Banglesh is accelerating payment of more than $800 million it owes ani Power ahe of a v. 7 deline set by company, which has cut electricity exports to Banglesh by more than half, two senior government officials said.

ani Power, which exports power to Dhaka from its 1,600 megawatts (MW) Godda plant in Jharkhand state, set deline for receipt of dues as it faces challenges in importing coal necessary for power generation, three sources familiar with matter said.

company, owned by billionaire Gautam ani, reduced power supply to Banglesh this month to 700-800 MW from around 1,400 MW, a senior official at Banglesh Power Development Board told Reuters.

officials spoke on condition of anymity because y were t authorised to speak with media.

ani Power did t respond to Reuters queries on payment deline.

Banglesh has been struggling to pay its bills due to costly fuel and goods imports since Russia inved Ukraine in 2022. political turmoil that led to ouster of former Prime Minister Sheikh Hasina in August has also compounded its troubles.

"Last month, we cleared $96 million, and this month, a letter of credit has been opened for an ditional $170 million," Muhamm Fouzul Kabir Khan, power and energy viser in interim Banglesh government, told Reuters.

Last month, sources familiar with matter told Reuters that Banglesh was scrutinising its contract with ani Power, as it was charging Banglesh a rate nearly 27 per cent higher than those of India's or private producers.

ani Power Chief Financial Officer Dilip Kumar Jha, in a quarterly earnings conference call last week, said re were issues related to power supply to Banglesh.

"We hope that re will be furr deterioration in terms of outstanding," he said.