The Bangladeshi government’s power and energy ministry’s federal review committee recommended on Sunday that significant power contracts, including those awarded to the Adani Group in Jharkhand, be reviewed.
A statement issued by chief adviser Muhammad Yunus’s office said the committee is currently reviewing seven major energy and power projects, including the Adani ( Godda ) BIFPCL 1234.4 MW coal-fired plant.
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Adani ( Godda ) BIFPCL is a wholly-owned subsidiary of Adani Power. A reputable law firm and international investigative company have been suggested for a review by the board.
Adani Power is awaiting its interrupted payment at the same time as this development.
However, in an unusual resolution, the commission, headed by withdrew high court judge Moyeenul Islam Chowdhury, stated that it needed more time to further investigate all arrangements.
According to the review committee’s decision, the panel is gathering proof that could lead to the possible renegotiation or cancellation of contracts in accordance with international mediation laws and procedures. We advise one or more top-notch international legal and analytical companies to immediately work with our committee in order to facilitate this, the statement read.
The panel put forth a desire to ensure that its investigations are compliant with global standards and will be accepted in international arbitration and negotiations.
The Yunus government recently received a letter from Adani Group regarding its$ 800 million power supply bill, whereas Bangladesh’s state-run Power Development Board claimed they had already paid$ 150 million despite the country’s$ crisis and that they were anticipating paying the entire sum.
Bangladesh had a right to receive electricity from Adani’s Godda thermal flower, but India just amended a law allowing the American company to market the Godda power domestically, stoking rumors if Bangladesh was given a dedicated power supply from the plant.
