Reliance Power Announces Project Financing of USD583 Million for LNG and Power Project in Bangladesh

Published: Dec 05 2017
Deal Summary

Reliance Power Limited, a renewable energy company, has announced the project financing of USD583 million for the construction and development of Reliance Bangladesh liquefied natural gas (LNG) and power project located in Meghnaghat, near the capital city of Dhaka, Bangladesh. The financing will be provided by Asian Development Bank. The total cost of the project is expected to be approximately USD1,000 million.

ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately USD1 billion. The investment per MW will be USD1.3 million.

Power generated from the project will be sold into the country’s electricity grid under a long-term power purchase agreement with the Bangladesh Power Development Board.

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