Adani to restore full power to Bangladesh in days but differences remain, say sources
The Hindu
Adani Power to resume full supply to Bangladesh after payment delays, rejecting discounts and tax benefits.
Adani Power has agreed to fully restore supply from a 1,600 MW India power plant to Bangladesh in a few days after a gap of three months but has rejected Dhaka's request for discounts and tax benefits, two sources told Reuters.
Billionaire Gautam Adani's company halved supply to Bangladesh on October 31 due to payment delays as the country battled a foreign exchange shortage. This led to the shutdown of one of the two equal-sized units of the plant on November 1, followed by Bangladesh's request to keep supplying only half the power, citing low winter demand and as the payment issue bubbled.
Ahead of summer demand and on Bangladesh Power Development Board's (BPDB) request, Adani Power has agreed to resume full supplies by next week, said the two sources who had direct knowledge of the matter but declined to be named as they were not authorised to talk to the media. The plant in eastern India sells only to Bangladesh.
Adani Power, however, has not agreed to meet several other demands from BPDB, including giving discounts and concessions potentially worth millions of dollars to Bangladesh, said the sources. The two sides had a virtual meeting on Tuesday and more are likely to carry on the discussions.
"They don't want to give up on anything, even $1 million," said one of the sources, referring to Adani Power. "We have not got any concessions. We want a mutual understanding, they are invoking the power purchase agreement."
BPDB Chairperson Md. Rezaul Karim did not respond to questions about the differences. He told Reuters earlier this week that "now there is no big issue with Adani" and that full power supply was going to begin, while he tried to step up payments beyond $85 million a month.
An Adani Power spokesperson did not immediately respond to a request for comment. The company said in a statement following a Reuters story on Tuesday that "dispatch of power by a power generator is dependent on the procurers' requirements, which keep changing".
Sri Lanka issues urgent landslip warnings as Cyclone Ditwah's death toll rises to 607 amid ongoing heavy rainfall and evacuations.
EU regulators fine Elon Musk's X 120 million euros for breaching digital laws on transparency and user safety.
Indians among 171 delivery riders detained in U.K. crackdown on illegal migration as part of new government reforms.
IMF explores recovery support for Sri Lanka following cyclone Ditwah, addressing humanitarian and economic challenges faced by the nation.
Edinburgh Airport halts all flights due to IT issues; passengers should check with airlines for updates.
Odisha Minister confirms that the inquiry report into the Nepalese student's death at KIIT University is currently under examination.
Hong Kong's upcoming legislative election faces low turnout as residents mourn a devastating fire that claimed 159 lives.
Harvard professor Carlos Portugal Gouvea arrested for discharging a pellet gun near a synagogue; agrees to leave the U.S.
Macron cautioned Zelenskyy that the U.S. might pressure Ukraine into territorial concessions to Russia without security guarantees.
A Canadian national was arrested at the Indo-Nepal border for using a fake immigration stamp on his passport.
Appeals court permits Trump to maintain National Guard deployment in D.C., reversing a lower court's order to withdraw troops.
Iraq retracts its terror designation of Hezbollah and Houthis, citing an error amid regional political pressures and public backlash.
U.S. military strikes drug boats amid scrutiny over legality and rising casualties, prompting investigations and conflicting congressional testimonies.