<p>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.</p>.<p>Reliance Power and JERA, through their project company, are developing a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh.</p>.<p>"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.</p>.<p>"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.</p>.<p>Anil Ambani, Chairman of Reliance Power said this financing tie-up represents one of the largest funding tie-ups for a project in Bangladesh's power sector.</p>.<p>Reliance Power said, with this loan agreement, all major contracts required for the development of the project have been completed.</p>.<p>"Going forward, Reliance Power and JERA will focus on full-scale construction and work steadily towards achieving commercial operation in 2022," the company added.</p>.<p>Shares of Reliance Power were trading 1.18 percent lower at Rs 3.34 a piece on BSE. </p>
<p>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.</p>.<p>Reliance Power and JERA, through their project company, are developing a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh.</p>.<p>"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.</p>.<p>"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.</p>.<p>Anil Ambani, Chairman of Reliance Power said this financing tie-up represents one of the largest funding tie-ups for a project in Bangladesh's power sector.</p>.<p>Reliance Power said, with this loan agreement, all major contracts required for the development of the project have been completed.</p>.<p>"Going forward, Reliance Power and JERA will focus on full-scale construction and work steadily towards achieving commercial operation in 2022," the company added.</p>.<p>Shares of Reliance Power were trading 1.18 percent lower at Rs 3.34 a piece on BSE. </p>