Reliance 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.
-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