Delhi: A report by Hindenburg Research has put Adani Group in trouble. Shares of companies have fallen by more than 60 percent. The loss has crossed 10 lakh crores. Adani, who reached the second position in the list of world’s richest businessmen, is no longer even in the top 20. Adani has lost as much wealth in five days as he had earned in the last one year. Now Bangladesh has given a blow to Adani. Now the rest of the country is on alert after the Adani group is in trouble. Bangladesh is also included in this. Bangladesh signed a power purchase agreement with Adani Power Ltd in 2017. Bangladesh has demanded amendment in it. The electricity rates fixed by Adani Group are high. The Bangladesh government has demanded that they should be reduced.
What are the deals between Adani Power and Bangladesh
Adani Power Limited is setting up a power plant in Godda district of Jharkhand. The capacity of this center is 1600 MW. Electricity will be sent to Bangladesh from this center. Bangladesh currently imports 1160 MW of electricity from India. As per the 2017 agreement, 1,600 MW of power generated from the Godda station would be sent to Bangladesh. An agreement has been signed between Adani Group and Bangladesh for 25 years. Bangladesh will get power from Godda from March this year. Bangladesh Power Development Board (BPDB) has sent a letter to Adani Group for changes in the power purchase agreement. Board officials have said that the rates of coal required for the project should be reconsidered. Adani Group has sent a letter to BPDB for coal import. Demand note from BPDB is required to receive letter from Government of India. BPDB officials say that the cost of coal that Adani Power will buy to buy power generation will ultimately fall on Bangladesh.
read this also
What is the demand of Bangladesh?
Adani Group has sent a demand note to Bangladesh. In this, the price of coal has been mentioned as $ 400 (Rs 32,897) per metric ton. BPDB officials have said that this rate is very high. Officials said the price should be $250 (Rs 20,561). The letter mentions that we are calculating the same rate for other power stations as well.