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NEW DELHI: Adani Power (ADAN.NS) inaugurated a new coal-fired power plant under a contract to supply all its electricity to Bangladesh. This came after an amendment to power export regulations by the central government which now allows the company to also provide power to the domestic market, Reuters reported.
Currently, the power plant affected by these rules is Adani Power’s 1,600 megawatt (MW) Godda plant in Jharkhand, which is contracted to export all of its output to a neighboring nation.
An internal memo from the power ministry, dated August 12 and reviewed by Reuters, revised the 2018 guidelines for power generators that supply electricity “exclusively to a neighbouring country.”
“The government of India may permit connection of such generating station to the Indian grid to facilitate sale of power within India in case of sustained non-scheduling of full or part capacity,” the government’s memo said, according to Reuters.
The amendment further allows the billionaire group to sell power to the local grid in cases where there are delays in payment.
It comes as the neighbouring country is grappling with political instability after anti-quota protests turned violent forcing Sheikh Hasina to flee the country and seek refuge in India.
An Adani group spokesperson said on Tuesday that the move will “help cater to the soaring electricity demand across the country.”
“Adani Power is committed to fulfil contractual obligations as per Bangladesh Power Development Board’s demand schedule and provisions of the power purchase agreement and would look forward to continuing reciprocal fulfilment,” the spokesperson said.
Currently, the power plant affected by these rules is Adani Power’s 1,600 megawatt (MW) Godda plant in Jharkhand, which is contracted to export all of its output to a neighboring nation.
An internal memo from the power ministry, dated August 12 and reviewed by Reuters, revised the 2018 guidelines for power generators that supply electricity “exclusively to a neighbouring country.”
“The government of India may permit connection of such generating station to the Indian grid to facilitate sale of power within India in case of sustained non-scheduling of full or part capacity,” the government’s memo said, according to Reuters.
The amendment further allows the billionaire group to sell power to the local grid in cases where there are delays in payment.
It comes as the neighbouring country is grappling with political instability after anti-quota protests turned violent forcing Sheikh Hasina to flee the country and seek refuge in India.
An Adani group spokesperson said on Tuesday that the move will “help cater to the soaring electricity demand across the country.”
“Adani Power is committed to fulfil contractual obligations as per Bangladesh Power Development Board’s demand schedule and provisions of the power purchase agreement and would look forward to continuing reciprocal fulfilment,” the spokesperson said.
