Adani Group's Adani Power Jharkhand (APJL) has reduced power supply to Bangladesh by half. This company is a subsidiary of Adani Power. APJL owes about $846 million for power supply in Bangladesh. News agency PTI has given this information in one of its reports. Data from Power Grid Bangladesh PLC shows that the Adani plant has reduced power supply late Thursday night.

This information has also been given in the local newspaper. There is a talk of a power shortage of 1,600 MW in Bangladesh on Thursday. On Friday, only 700 MW power is being supplied from only one unit of the 1,496 MW capacity plant.
Earlier, this company of Adani Group had also written a letter to the Power Secretary of Bangladesh Power Development Board (PDB) asking to pay the dues by October 30. In this letter written on October 27, it was said that if the dues are not paid, then the company will have to take necessary steps under the Power Purchase Agreement (PPA). The company said that the Power Development Board has not given a letter of credit (LC) of $ 170.03 million. This LC was to be received from Bangladesh Krishi Bank. Bangladesh has also not paid the dues of $ 846 million. In the report, PDB officials have been told that they have paid some part of the earlier dues. But, since July, the company of Adani Group is charging more than in the earlier months. PDB is paying about $ 18 million every week, while the total charge is $ 22 million. 

Regarding the additional payment, PDB had also raised questions on the pricing of coal last year. They had signed a supplementary deal, under which Adani Group companies charge lower prices for coal than coal power plants. The report said that after the completion of 1 year of this deal, APJL is once again charging under PPA. Under PPA, coal prices are calculated on the basis of the average price of the coal index. These indexes are Indonesian Coal Index and Australian Newcastle Index. Regarding stopping the supply, Adani has said that the company has the right to do so under the PPA. Adani Group's Adani Power has not given much return for some time. It is down 2% in 6 months and about 9.75 percent down in 1 month. However, this stock is up about 14% so far this year. This stock is up 60% in the last 1 year.