Adani Power Ltd has resumed supply of electricity to Bangladesh from its power plant in Jharkhand after the neighbouring country started payments.
Both units of the 1,600 (800x2) mega watt thermal power plant at Godda are now operating and supplying electricity to Bangladesh Power Development Board.
However, the payment coming in from across the border only covers the current consumption, sources said, adding that dues continue to be $820-$830 million.
The ultra-supercritical plants were commissioned in April and June 2023 and the revenue model of India’s first transnational project is based on a dollar denominated 25-year power purchase agreement.
The Godda plant is connected to the Bangladesh grid with a 400 KV dedicated transmission line that goes through Bengal. Electricity from the Adani plant largely caters to the north of the country.
A Bangladeshi senior official also confirmed that BPDB is making payments to Adani and receiving electricity as per requirement.
Resumption of the Godda unit and payment from Bangladesh lifted the stock of Adani Power Ltd on the bourses on Thursday. It ended the day at ₹519.65 with a gain of 4.39 per cent, or ₹21.85 a share, on the BSE when the Sensex gained only by 0.41 per cent.
The stock reaction underscores the relief from an uncertainty surrounding the financial viability of the Godda power plant after the political transition in Bangladesh with the present regime often voicing concerns about allegedly inflated power tariff from Adani plant.
Dues from Bangladesh has been on an upward curve even before the transition but the dues have ballooned in the last 8 months.
Adani’s power tariff to BPDB has two components: capacity charge and variable charge. While the capacity charge is fixed, variable charge is dependent on coal cost.
Mahan Transmission
Adani Energy Solutions on Thursday announced acquisition of a project special purpose vehicle Mahan Transmission, which will evacuate 1,230 MW power from Adani Power’s upcoming 1,600 MW expansion units at Mahan in Singrauli district.
