ADB\u2019s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion.<\/p>\n
\u201cADB\u2019s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country\u2019s economic growth.\u201d Michael Barrow, director-general of ADB\u2019s Private Sector Operations Department, said: \u201cADB\u2019s role as a direct lender and guarantee provider will enable Reliance Power to mobilize much needed long-term debt financing and will help in attracting new lenders to Bangladesh.\u201d<\/p>\n
Diversifying Bangladesh\u2019s sources of energy is critical for the country as demands for natural gas have placed significant pressures on the country\u2019s domestic gas reserves. New LNG import facilities will enable the existing gas-department infrastructure to remain viable while opening Bangladesh’s access natural gas from global markets.<\/p>\n
ADB\u2019s support will help Reliance Power to develop an initial approximately 750 megawatts (MW) of gross power generation capacity and terminal facilities for LNG import. Reliance Power plans to increase its power generation capacity to around 3000 MW in Bangladesh. Energy from the power plant will be sold to the country\u2019s electricity grid under a long-term power purchase agreement with the Bangladesh Power Development Board.<\/p>\n
Anil Ambani-promoted Reliance Power on Tuesday said the Asian Development Bank\u2019s (ADB’s) board of directors had approved debt financing and partial risk guarantees totalling $583 million to develop the company’s Liquified Natural Gas (LNG) terminal and 750-Mw power project in Bangladesh.<\/p>\n
The project, which includes a power-generation facility to be located in Meghnaghat, near the capital city of Dhaka, and an LNG Terminal near Kutubdia Island south of Chittagong, will significantly increase power generation and improve energy infrastructure in Bangladesh, said the company in a statement.<\/p>\n
\u201cReliance Power has achieved a major and important milestone of approval of financing for its landmark Project in Bangladesh. This is an important step in helping Bangladesh to achieve energy security,\u201d said Venugopala Rao, CEO, Reliance Power. \u201cADB\u2019s leadership in financing will help us to develop this clean and reliable LNG \u2013based power project in Bangladesh.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
ADB\u2019s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion. \u201cADB\u2019s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country\u2019s economic growth.\u201d Michael Barrow, director-general of ADB\u2019s Private Sector Operations Department, said: \u201cADB\u2019s role as a direct lender and guarantee provider will enable Reliance Power to mobilize much needed long-term debt financing and will help in attracting new lenders to Bangladesh.\u201d Diversifying Bangladesh\u2019s sources of energy is critical for the country as […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-140633","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/140633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=140633"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/140633\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=140633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=140633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=140633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}