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Bangladesh pays $437 million to Adani Power

Author: PPD Team Date: 04/07/2025

Bangladesh paid USD 437 million to Adani Power Limited in June 2025, clearing all outstanding dues associated with the 1,600 MW Godda plant in Jharkhand. This ends months of delayed payments and supply uncertainty.

The settlement includes carrying costs and amounts under the power purchase agreement. Bangladesh also issued a sovereign guarantee and a Letter of Credit worth two months of billing, about USD 180 million. Following this, the Bangladesh Power Development Board (BPDB) directed Adani to resume full supply from both 800 MW units.

According to The Business Standard, this is the single largest payment made by Bangladesh Bank to Adani Power. Monthly payments had ranged between USD 90–100 million in recent months.

The payment covers all receivables up to 31 March 2025. Adani Power’s CFO, Dilip Jha, told analysts that of the total USD 2 billion billed to Bangladesh, USD 1.2 billion was collected by end-FY25. An additional USD 136 million was billed for delays.

The PPA has returned to a normal legal and financial state. All arrears, interest, and charges have been cleared. Earlier concerns raised by Bangladesh have also been resolved.

As part of the agreement, Adani waived delayed payment charges after Bangladesh cleared dues for FY25 by 30 June.

With payment risk addressed, lenders expect Adani Power’s credit rating to improve from AA to AA+. The company continues to supply competitively priced power to Bangladesh.

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