After Kenya cancelled its multimillion-dollar energy deals with Adani Group, Bangladesh is investigating bilateral purchase agreements done under former Prime Minister Sheikh Hasina with different business conglomerates, including Adani Group.
A review committee under the Bangladesh power ministry is investigating the deals, reported PTI.
The interim government, headed by Chief Adviser Muhammad Yunus, had formed a committee to review power purchase contracts signed under the Quick Enhancement of Electricity and Energy Supply (Special Provisions) Act, 2010 (Amended 2021).
“The National Review Committee on Ministry of Power, Energy and Mineral Resources has recommended the appointment of a reputed legal and investigation agency to review the major power production agreements signed during the autocratic regime of Sheikh Hasina from 2009 to 2024,” read an official statement issued by Chief Adviser Muhammad Yunus’s office.
Major seven energy and power projects are being investigated, including Adani (Godda) BIFPCL 1234.4 MW coal-fired plant.
The six other agreements include one with a Chinese company that built a 1320 MW coal-fired power plant, while the rest are with Bangladeshi business groups considered close to Hasina's regime.
According to the statement, the review committee has gathered “enormous proof” that warrants the agreements' scrapping or reconsideration in accordance with international arbitration laws and procedures.
The committee also needed more time to analyse other “solicited and unsolicited contracts”, the statement added. “In doing so, we recommend the immediate appointment of one or more top-level international legal and investigation agency or agencies to assist the committee,” the statement said, quoting a letter from the committee, headed by retired High Court judge Moyeenul Islam Chowdhury.
The Adani Group built the Godda thermal plant in Jharkhand exclusively to supply power to Bangladesh. Still, India recently changed a law allowing the company to sell power in the domestic market.
After the United States indicted billionaire industrialist Gautam Adani, Kenya cancelled multimillion-dollar airport expansion and energy deals with the group.
President William Ruto in a State of the Nation address said the decision was made based on new information provided by our investigative agencies and partner nations.