Bangladesh has signed an agreement to buy 718 megawatt of electricity from Reliance Power over the next 22 years, the company said on Sunday. Reliance plans to invest about $1 billion to set up a local plant by 2022 to provide the electricity. The plant will be built at Meghnaghat in Narayanganj, over 20 km (12.4 miles) southeast of the capital Dhaka, according to a project report.
The combined-cycle power plant will be fuelled by gas and regasification LNG and be fully owned by Reliance.
Bangladesh agreed a deal with China last week to build renewable energy projects providing 500 MW by 2023 at an investment cost of $400 million, in the latest sign of Beijing’s growing role in the South Asian nation’s energy sector.
