Reliance Power & JERA inks loan agreement with group of banks to set up power plant in Bangladesh

Reliance Power and Japanese energy major JERA are jointly developing a new 745 MW natural gas-fired thermal power generation project in Meghnaghat in Bangladesh.
The project will be undertaken by their project company, Reliance Bangladesh LNG & Power, a 51:49 joint venture between Anil Dhirubhai Ambani Group’s Reliance Power and Japan’s JERA Co Inc.
For this purpose, a loan agreement has been signed by the project company with a group of lenders to avail full financing, totalling to $642 million (approx Rs 4,798 crore), for funding the project.
The electricity generated from this project will be sold to the Bangladesh Power Development Board for 22 years from the start of commercial operation.