Several Indian power companies supplying electricity to Bangladesh are facing substantial overdue payments, totaling over $1 billion. The major amounts owed and the status of these debts are outlined below.
Outstanding Payments Breakdown
- Adani Power is the largest creditor, with approximately $800 million outstanding. This debt stems from electricity supplied by its 1.6 GW coal-fired plant in Godda, Jharkhand, through a dedicated transmission corridor.
- SEIL Energy India is owed around $150 million as of June 30, 2024. This debt is related to a power purchase agreement for 250 MW of electricity.
- NTPC has not received nearly $80 million for the 740 MW supplied from three of its plants.
- PTC India reported a debt of about $84.5 million as of March 2024. By August 25, it had received $46 million but still remains owed $79 million. PTC India supplies 250 MW from West Bengal State Electricity Distribution Co.
- Power Grid Corporation of India is awaiting $20 million.
Current Supply Status
Despite these significant outstanding amounts, the companies have continued to supply power without interruption, demonstrating the strong bilateral ties between India and Bangladesh. However, ongoing supply is threatened by the unresolved payment issues.
Challenges and Future Outlook
An executive from one of the companies indicated that while supplies have continued, there is an urgent need for resolution. The companies face mounting pressures from stakeholders, lenders, and suppliers. The Adani Power official acknowledged the situation but declined further comment.
The Godda plant, fully operational since July 2023, uses imported coal and was expected to benefit Bangladesh by replacing costly liquid fuel power. However, ongoing payment delays could impact future operations and the stability of supply.
The situation highlights the importance of timely payments to maintain energy supply stability and international business relations.
