The Asian Development Bank finances a 718 MW CCGT project in Bangladesh

3 Aug 2020

The Asian Development Bank (ADB) has awarded a US$200m financing to Reliance Bangladesh LNG and Power Limited (RBLPL) to build and operate a 718 MW CCGT power plant on the banks of the Meghna River, southeast of Dhaka in Bangladesh. The assistance package includes a US$100m loan from ADB and a further US$100m loan from the Leading Asia’s Private Infrastructure Fund (LEAP), which will be administered by ADB. The project is co-financed by the Japan Bank for International Cooperation as well as four commercial banks, with insurance for the commercial banks provided by Nippon Export and Investment Insurance.

In September 2019, Reliance Power (India) signed an agreement with JERA, the joint venture of Japanese companies TEPCO and Chubu Electric, to set up a 750 MW gas-fired combined-cycle power plant at Meghnaghat, Narayanganj (Bangladesh). Reliance Power will hold a 51% stake in the joint venture established for the project, while JERA will hold 49%. The plant already has a secured a 22-year power purchase agreement (PPA) with the Bangladesh Power Development Board (BPDB).

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