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India Distances Itself From Adani Power, Bangladesh Deal

© AP Photo / Ajit SolankiAutorickshaws wait at an Adani Compressed Natural Gas (CNG) station in Ahmedabad, India, Feb. 2, 2023.
Autorickshaws wait at an Adani Compressed Natural Gas (CNG) station in Ahmedabad, India, Feb. 2, 2023. - Sputnik India, 1920, 03.02.2023
Gautam Adani, once Asia's richest man, seems to have landed in a pool of controversy after Hindenburg Research accused his businesses of keeping offshore tax havens, manipulating stock prices and accounting fraud.
New Delhi has distanced itself from a report alleging that the Bangladesh government has sought the revision of a 2017 power purchasing agreement from the Adani Group.
Dhaka has requested the revision of its 2017 power purchase agreement with Adani Power Ltd., saying that the electricity pricing appears too expensive.

“I am not aware of the deal, I don’t even think we are involved in this,” Ministry of External Affairs spokesperson Arindam Bagchi said on Thursday.

The Bangladesh Power Development Board (BPDB) sent a letter seeking revision as it received a request from Adani Power in relation to opening LCs (Letters of Credit) in India to import coal for the 1,600 MW plant in Jharkhand state.
Dhaka is supposed to purchase 1,600 MW of electricity from Adani Power Ltd for 25 years, and will start getting electricity from March this year.
When asked if any foreign governments approached India regarding the Adani Group, the Foreign Ministry's spokesperson said that he was unaware of such a development.
“I don’t know if they will approach MEA. I’m not aware of any such outreach at all,” Bagchi said. “I don’t think it is a foreign policy issue. If there is any query they might have vis-a-vis a private organization, maybe they’ll route it through other concerned departments, but I’m not sure.”