India’s electricity exporters PTC India and SEIL Energy India have requested the Bangladesh Power Development Board (BPDB) to invoke their bank guarantees due to unpaid dues for electricity supplied. SEIL Energy is owed over $150 million, with a bank guarantee amounting to 285 crore Indian rupees ($341 million), while PTC India is owed over $79 million, with a guarantee of 257 crore rupees ($307 million). Both companies supply 250MW of power to Bangladesh, with dues pending for over eight months, critical for maintaining power supply viability. Despite the outstanding payments, BPDB has begun making payments to Adani Power, which has dues exceeding $850 million, at a rate of $4 million to $5 million per day. BPDB’s chairman stated that they are making gradual payments to the Indian companies but did not provide specific figures on total outstanding amounts. Both SEIL and PTC India emphasized ongoing dialogues with Bangladeshi authorities to resolve the situation while continuing to supply power. The current contracts for power supply with PTC India date back to 2022, and they have been supplying power since 2013.
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