Bangladesh wants to sharply lower prices under a power purchase deal with India's embattled Adani Group unless it is canceled by a court, which has called for an investigation into the 25-year deal, its de facto energy minister said on Sunday.
Adani Group founder Gautam Adani is already facing allegations by U.S. authorities that he was part of a $265 million bribery scheme in India — charges he has denied — even as one Indian state reviews a power deal with the group and France's TotalEnergies pauses its investments.
In Bangladesh, based on an appeal by a lawyer demanding the power deal's potential cancellation, the High Court last week ordered a committee of experts to examine the contract under which Adani supplies power from a $2 billion coal-fired plant in eastern India. The investigation is expected to be concluded by February, when the court is due to make its order.
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