RPower, JERA ink loan agreement with banks for Bangladesh's power plant

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