Reliance Power, Japan's JERA to set up 750-Mw power plant in Bangladesh

RPower plans to use funds paid for the equipment for repayment of debt worth Rs 835 crore

Reliance Power (RPower) entered into an agreement with Japanese utility JERA to set up a 750-megawatt (Mw) power plant in Bangladesh, the company said on Tuesday. The investment will also help RPower repay Rs 835 crore worth of debt through relocation of its Samalkot power plant equipment. 

“RPower signed a deal with JERA for jointly setting up 750 Mw gas-based combined cycle power project (Phase-1) in Meghnaghat, Bangladesh. RPower will hold 51 per cent stake while JERA will have 49 per cent in the joint venture company,” RPower said. 

K Raja Gopal, chief executive officer for RPower said the project would be