Adani Power: Bangladesh's Strained Energy Ties

Adani Power faces strained relations with Bangladesh over a possible renegotiation of a 25-year power purchase agreement. Amid mounting dues of over $800 million and Bangladesh’s efforts to lower prices, the High Court has ordered a review of the contract. Adani denies related corruption allegations.

Adani Power announced on Monday that it is unaware of any official move by the Bangladesh government to reassess a longstanding power purchase agreement, despite previous reports suggesting otherwise.

Reports by Reuters indicated Bangladesh's intent to lower prices in the agreement unless a court orders its cancellation, initiating an official contract review initiated by the High Court.

The deal, established in 2017, requires Adani Power to supply energy from a sizable coal-fired plant, while Adani confronts allegations of bribery in India and financial concerns due to growing unpaid dues in the energy arrangement with Bangladesh.

(With inputs from agencies.)