Adani Power shares in focus as Bangladesh halves electricity buying amid payment dispute
Adani Power shares are in focus after Bangladesh, grappling with $844 million (Rs 7,000 crore) in unpaid power dues to the company, asked Adani to reduce its electricity supply due to low demand during the winter season.
«Due to low demand owing to the onset of winter, Bangladesh Power Development Board (BPDB) has conveyed that we need to supply from one unit only,» a spokesperson for Adani Power told ET in an emailed response to queries, adding that the units are available as per the contract with BPDB.
The spokesperson also stated that Adani Power has not received any indication from the Bangladesh government about a potential review of the power purchase agreement.
The company signed a 25-year power purchase deal with BPDB in 2015. Adani Power meets a tenth of Bangladesh's electricity needs.
The company supplies nearly 1,600 MW of power to Bangladesh from its coal-fired plant in Godda, Jharkhand, with two units of nearly 800 MW each.
Stock Trading
Macroeconomics Made Easy: Online Certification Course
By — Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant
Stock Trading
Mastering Options Selling: Advanced Strategies for Success
By — CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader
Stock Trading
A2Z of Stock Trading — Online Stock Trading Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Heikin Ashi Trading Tactics: Master the Art of Trading
By — Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert
Stock Trading
Stock Investing
