Gautam Adani, chairman of the Adani Group, has urged Bangladesh to clear outstanding dues of US$464 million, citing growing concern among lenders and stakeholders over the prolonged delay in payments.
In a letter dated September 27, 2025, addressed to Chief Adviser Prof. Dr. Mohammad Yunus, Adani acknowledged that Bangladesh made partial payments between June and September 2025, which “tremendously helped to partially reduce the outstanding balance and mitigate hardships in managing fuel and spare-parts sourcing.”
However, he emphasised that “a significant balance of approximately $464 million remains outstanding.” The dues relate to power supplied from Adani Power’s 1,496 MW Godda Thermal Power Plant in Jharkhand, which exports electricity to Bangladesh under a long-term contract.
Adani noted that during a meeting on June 23, 2025, officials of the Bangladesh Power Development Board (BPDB) had assured the company that all outstanding amounts, including Late Payment Surcharges (LPS), would be settled by September 30.
But, he added, “no concrete schedule nor any definitive plan has been provided” despite the expiry of that deadline.
The letter urged the Chief Adviser to “facilitate the prompt settlement” of the receivable amount to avoid further strain on operations and financing.
Reaffirming Adani Power’s commitment to Bangladesh’s energy security, Adani said the company remains dedicated to supporting the country’s electricity needs and strengthening bilateral energy cooperation.
The CA office, however, forwarded the Adani Chairman’s letter to the Ministry of Power, Energy and Mineral Resources Division, several officials from the Power Division confirmed to Just Energy News on condition of anonymity.
In mid-June, BPDB cleared $336 million in overdue payments to Adani Power for electricity supplied up to March 2025, ahead of Adani’s June 30 deadline tied to a conditional waiver of late payment surcharges.
Following the payment, Adani Power confirmed it had waived $20 million in late fees, as outlined in a June 23 letter referencing the Power Purchase Agreement (PPA) and Implementation Agreement signed on November 5, 2017, between Adani Power (Jharkhand) Limited and the Government of Bangladesh.
Coal tariff dispute still unresolved
Despite progress on payments, a key dispute over coal tariffs between BPDB and Adani remains unsettled. The disagreement concerns the per-unit cost of electricity generated at the Jharkhand plant.
During a virtual meeting in June, BPDB officials proposed aligning Adani’s coal pricing formula with that used for the 1,320 MW Payra power plant. Adani rejected the proposal, citing fixed terms under the existing PPA.
BPDB Chairman Engr. Md. Rezaul Karim told Just Energy News that the board has proposed allowing Adani Power to sell electricity to the Indian market during the winter season, provided the company agrees to review the disputed tariff.
“We have already proposed to Adani Power that it may sell a portion of its electricity to the Indian market if the company agrees to review the disputed coal tariff,” Karim said.
Adani seeks capacity revision
In the same meeting, Adani requested a revision of the plant’s dependable capacity following an April 2025 performance test, which, according to BPDB, showed an increase from 1,396 MW to 1,570 MW.
BPDB noted that any capacity revision would require a supplementary agreement. While no date has been set, both sides have agreed to hold a high-level meeting soon to address the pending issues.
The BPDB said it is currently reviewing the coal tariff formula in an effort to resolve the discrepancy.