Adani Halves Power Supply to Bangladesh Over Unpaid Bills: Report

06 Nov 2024 CW Team

India's Adani Power Jharkhand (APJL), a fully-owned subsidiary of Adani Power, has ceased half of its power supply to Bangladesh due to outstanding bills totalling $846 million. According to data from Power Grid Bangladesh PLC, the Adani plant reduced its supply on Thursday night.

Bangladesh experienced a power shortfall exceeding 1,600 megawatts (MW) during the night between Thursday and Friday, as the 1,496 MW plant is now producing only 700 MW from a single unit, the newspaper noted.

Previously, Adani had sent a letter to the power secretary, urging the Bangladesh Power Development Board (PDB) to settle its outstanding dues by October 30.

The letter, dated October 27, indicated that if the bills were not cleared, the company would have no choice but to take remedial action under the Power Purchase Agreement (PPA) by suspending power supply on October 31. The company mentioned that the PDB had not provided a letter of credit (LC) for $170.03 million from Bangladesh Krishi Bank, nor had it settled the outstanding amount of $846 million.

The newspaper quoted a PDB official who stated that while they had previously cleared a portion of the dues, Adani had been charging more since July than in earlier months.

The official explained that the PDB has been making weekly payments of around $18 million, while the charges have exceeded $22 million, resulting in an increase in due payments. He added that last week's payment was submitted to Krishi Bank, but the bank was unable to open a letter of credit against the payment due to a shortage of dollars.

Regarding the additional payment, the official mentioned that when the PDB inquired about coal pricing in February of the previous year, they had signed a supplementary agreement that required Adani to quote coal prices lower than those of other coal-fired power plants.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..