Reliance Power inks pact with Japan’s JERA for Bangladesh’s 750 MW project
Reliance Power signed a partnership agreement with JERA, one of the largest power utilities of Japan, for jointly setting up 750 MW gas-based combined cycle power project (Phase-1) at Meghnaghat, Bangladesh. Reliance Power will hold 51 per cent stake while JERA will hold 49 per cent stake in the joint venture company.
Reliance Power had signed an MoU, during PM Narendra Modi’s visit to Bangladesh in June 2015, for setting up 3,000 MW gas-based combined cycle power project in phases in Bangladesh.
The Project Agreements include the Power Purchase Agreement and Land Lease Agreement with Bangladesh Power Development Board (BPDB) for the power project, Gas Supply Agreement with Titas Gas, a subsidiary of Petrobangla for the supply of gas to the power project and Implementation Agreement with Ministry of Power, Energy and Mineral Resources. The project will be set up within 36 months of signing the agreements.
