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News Headline : > No place for people linked with massacre in BNP: Fakhrul   > Scientists probe `negative time` in quantum experiments   > China to continue utmost support for Bangladesh`s dev   > BNP vice-chairman Pintu walks out of jail after 17 yrs   > DMP bans fireworks-sky lanterns on Christmas   > El Salvador Congress votes to end ban on metal mining   > Toyota to build Lexus EV plant in China: reports   > US national security adviser calls CA, reiterates continued support   > UK economy stagnant in third quarter in fresh setback   > 3 youths killed in motorcycle accident in Cumilla  

   International
Adani seeks new markets as Bangladesh demand dries up
  23, December, 2024, 9:50:27:PM

Adani Power is exploring options to sell power generated at its 2x800 MW Godda plant in Jharkhand to neighbouring countries like Sri Lanka, following a significant reduction in power offtake by Bangladesh.

However, any such move would require consent from Bangladeshi authorities, according to an official from the Ministry of Power, Energy, and Mineral Resources in Bangladesh, reports BusinessLine of The Hindu.

"For Adani to sell power to Sri Lanka from the project originally dedicated to Bangladesh, I believe they will require the consent of the Bangladesh Power Development Authority," said Muhammad Fouzul Kabir Khan, adviser to the Bangladesh Ministry of Power, Energy, and Mineral Resources.

Although Indian regulations allow power generated in Special Economic Zones (SEZs) like the Godda plant to be exported, the arrangement with Bangladesh was originally cemented through a 2017 Power Purchase Agreement (PPA), which stipulated the supply of 1,496 MW net capacity.

The relationship between Adani Power and the Bangladesh government has been strained due to the latter’s non-payment for power purchased from the Godda plant. Bangladesh reportedly owes the Adani group hundreds of millions of dollars, though the exact amount remains under dispute.

In response to the payment defaults, Adani reduced the supply of power to Bangladesh. Additionally, declining energy demand in Bangladesh has further diminished offtake from the plant, sources say.

Adani Power is also evaluating options to sell surplus power in India via the Indian Energy Exchange or export it to neighboring countries like Sri Lanka. However, selling within India would require setting up new transmission infrastructure, as the existing network is designed exclusively for export to Bangladesh.

Selling power to Sri Lanka, while feasible under Indian norms for SEZs, would still hinge on approval from Bangladesh due to the original intent of the project.

The Adani project has come under scrutiny in Bangladesh. The country’s High Court recently directed detailed investigations into seven projects, including the Godda plant, citing concerns over inflated tariffs and alleged failure by Adani to reflect tax benefits provided by the Indian government.

The interim Bangladeshi government has been tasked with hiring an international law firm to conduct these investigations, which could impact the future of the project.

Commissioned in June 2023, the Godda plant was initially seen as a vital component of India-Bangladesh energy cooperation. However, the current challenges—including strained bilateral relations, payment disputes, and legal scrutiny—highlight the complexities of cross-border energy projects.



  
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