Bangladesh To Investigate Power Purchase Agreements Signed In Sheikh Hasina’s Rule; Adani Coal Plant Included

A high-profile review committee formed by Bangladesh's interim government, led by Chief Adviser Muhammad Yunus, has proposed an independent investigation into power purchase agreements signed during the tenure of former Prime Minister Sheikh Hasina. 

This recommendation, issued on Sunday (24 November), specifically calls for engaging a reputed legal and investigative agency to scrutinise these agreements, including one involving India’s Adani Group.

The interim administration had earlier constituted the review committee under the framework of the Quick Enhancement of Electricity and Energy Supply (Special Provisions) Act, 2010 (Amended 2021), aiming to assess the integrity and viability of these contracts.

An official statement from Yunus’s office revealed: “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.”

Among the projects under review is the Adani (Godda) BIFPCL 1234.4 MW coal-fired power plant, a flagship venture of billionaire Gautam Adani's Adani Power Limited. 

In addition, six other agreements are being scrutinised, including a 1320 MW coal-fired power plant built by a Chinese company and several projects awarded to Bangladeshi business groups perceived as aligned with Hasina’s administration.

The committee has reportedly uncovered “enormous proof” that raises significant concerns regarding the terms of these agreements. The findings, as per the statement, justify their potential annulment or renegotiation in compliance with international arbitration laws.

Furthermore, the committee, chaired by retired High Court judge Moyeenul Islam Chowdhury, highlighted the need for additional time to thoroughly assess other “solicited and unsolicited contracts.” It also emphasised the urgency of involving international expertise to assist in the review process.

“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 quoted.

The unfolding developments are likely to have significant domestic and international implications, as they involve major players like the Adani Group and other influential entities.

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