BD to pay $170m to Adani Power

News Desk :

PDB is repaying the dues to keep the power supply uninterrupted from the Godda Power Plant, Jharkhand as reported on Friday.

A few days ago, Reuters quoted two senior officials of Bangladesh’s interim government as saying that Bangladesh had paid $96 million last month. A letter of credit (LC) has been opened this month to repay another $170 million.

“This LC has been opened in ICICI Bank of India through Bangladesh Krishi Bank,” said an official aware of the recent development.

In 2015, the Sheikh Hasina government signed a 25-year deal with the company to buy power from Adani. Adani Power has two units in Godda, Jharkhand.

Adani Power exports the entire power of these two units to Bangladesh. Adani Power meets 10 percent of Bangladesh’s electricity needs.

However, recently there have been complications with the power purchase agreement. Last year, there was a huge controversy over the price of coal before the start of power generation. The Power Development Board (PDB) refused to pay a high price for coal.