Monday, March 17, 2025 | 08:48 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

RPower inks pact with Japan's JERA to set up Bangladesh power project

Reliance Power said the transaction will result in a debt reduction of Rs 835 cr

electricity, power

Press Trust of India New Delhi

Reliance Power on Tuesday said it has signed a partnership agreement with Japanese energy major JERA for jointly setting up 750 mega watt (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 said in a regulatory filing.

Reliance Power said the transaction will result in debt reduction for Reliance Power of Rs 835 crore ($116 million) payable to US-Exim. 

The project will be set up within 36 months of signing the agreements, the company added.

"This joint venture project will give a tremendous boost to the economic and industrial growth of Bangladesh and will enhance the energy security of the country with clean, green and reliable LNG-based power," Reliance Group of Companies Chairman Anil D Ambani said.

 

Shares of Reliance Power were trading 6.48 per cent higher at Rs 3.45 apiece on BSE.   

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 03 2019 | 10:55 AM IST

Explore News