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Reliance Power, JERA ink loan agreement with banks for new power plant in Bangladesh

Reliance Power, JERA ink loan agreement with banksReliance Power and Japanese energy major JERA have inked a pact with a group of banks for full financing, totalling $642 million (approx Rs 4,798 crore), for their new gas-fired thermal power generation project in Bangladesh.

  • Both partners will develop a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh.
  • In September, 2019 Reliance Power inducted JERA as a partner for the 750 mw-gas based combined cycle power project in Bangladesh as a part of its understanding with the country in 2015 to set up a total of 3,000 mw.

Key Points:

-The electricity generated will be sold under a long-term power purchase agreement with the Bangladesh Power Development Board (BPDB) for a period of 22 years from the start of commercial operation.

-Reliance Power hold 51% stake while JERA will hold 49% stake in the joint venture company.

About Reliance Power:
Chairman– Anil Dhirubhi Ambani
Headquarter– Mumbai, Maharashtra