Bangladesh has signed an agreement to buy 718 megawatts of electricity from India’s 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 southeast of the capital Dhaka, according to a project report seen by Reuters at an event held to close the deal.
The combined-cycle power plant will be fueled by gas and regasification liquefied natural gas and be fully owned by Reliance.
