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Dhaka, May 2, 2025: Bangladesh’s interim government is making significant progress in clearing outstanding electricity dues owed to Adani Power, a legacy issue from the previous administration.
In addition to settling monthly bills, the country is also paying off the accumulated arrears, according to a Reuters report citing Adani Power’s Chief Financial Officer, Dilip Jha, on Friday.
Jha stated that Bangladesh has substantially reduced its outstanding dues, though approximately $900 million remains unpaid, which Adani Power is optimistic about recovering. The dues stem from a 2017 agreement between Bangladesh and Adani Power. However, Dhaka struggled to meet payment obligations due to rising fuel costs following the Russia-Ukraine war in 2022 and political unrest surrounding the ouster of former Prime Minister Sheikh Hasina last year, which exacerbated the arrears.
As a result, Adani Power had reduced its electricity supply to Bangladesh by half last year. With Bangladesh now resuming regular monthly payments and addressing the backlog, Jha confirmed that full-scale electricity supply has been restored. Speaking at an earnings call with analysts on Thursday, Jha said, “We are supplying power to Bangladesh at full capacity. The payments we are receiving exceed the monthly bills, and we are hopeful that not only the monthly dues but also the outstanding arrears will be cleared.”
Adani Power revealed that it had billed Bangladesh $2 billion, of which approximately $1.2 billion has been paid so far.
AI/MR
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