BPDB issues $173 million letter of credit to Adani Power
Author: PPD Team Date: November 12, 2024
The Bangladesh Power Development Board (BPDB) has issued a $173 million letter of credit (LC) to Adani Power Limited to maintain the electricity supply.
This LC follows Adani Power’s reduction of electricity deliveries by half due to unpaid dues totalling $843 million.
Issued by Bangladesh’s Krishi Bank, with ICICI Bank in India as the counterpart, this is BPDB’s third LC to address payment issues with Adani Power.