US prosecutors have charged Adani Group chairman Gautam Adani and seven others with bribing Indian government officials.
Among these, Bangladesh has decided to hire a 'reputed international legal and investigative agency' to review major power generation contracts, including the Adani Power Trading Agreement. Bangladeshi officials told The Indian Express on Sunday that the contracts may be 're-examined or cancelled' as a result.
The National Review Committee of the Ministry of Power, Energy and Mineral Resources on Sunday ordered the appointment of a renowned legal and investigative firm to help the interim government review major power generation contracts signed during Sheikh Hasina's rule from 2009 to 2024, the Bangladesh government said in a statement. .
The committee said in its statement that it is conducting a detailed inquiry into several contracts, including Adani's Godda coal-fired power plant. Other projects include — Payra (1320 MW coal), Meghnaghat (335 MW dual fuel), Ashuganj (195 MW gas), Banshkhali (612 MW coal) and several gas and RLNG projects at Meghnaghat.
Justice Moinul Islam Chowdhury, in a motion headed by the committee, said more time was needed to further analyze other agreements. Gathering evidence for renegotiation or annulment of agreements in accordance with international arbitration laws and procedures.
In view of this, a spokesperson of Adani Power Limited told The Indian Express, We do not comment on the internal affairs of Bangladesh. Our PPA has been in existence for the past seven years and is fully legal and compliant with all laws. We continue to fulfill our contractual obligations by supplying electricity.
Meanwhile, Sri Lanka's new government is also reviewing Adani Green Energy Ltd's Mannar and Punriyan wind power projects. There is also a process of examining the financial and environmental impact of the agreements.
This revision decision of the government is taken with an aim to maintain international standards and ensure transparency.
Ceylon Electricity Board (CEB) spokesperson Engineer Dhanushka Parakramasingha confirmed to Sri Lankan daily The Sunday Morning that the matter was 'under review' but no final decision had been taken yet.
He said a proposal related to the wind power project would be submitted to the cabinet for further discussion in the next few weeks.
Dhanushk said the cabinet will review all the details of the Adani wind power project and then take a final decision. We are currently evaluating all aspects of the project, including financial feasibility and environmental impact.
“Ensuring transparency and accountability in such large-scale projects is crucial. This has become imperative especially in the light of international concerns regarding the Adani Group,' added Dhanushk Parakramsingh.
Sri Lanka's AKD government has told the country's Supreme Court that it will reconsider the wind power project approval given to the Adani Group by the previous government.
