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.
Reliance Power and JERA, through their project company, are developing a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh.
“The project company has now signed a loan agreement for full financing totaling $642 million with a group of banks that includes the Japan Bank for International Cooperation,” Reliance Power said in a regulatory filing.
“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 said.
