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Reliance Power and JERA Co. Inc. (JERA), through their joint venture
project company, are developing a new gas-fired power generation project in Bangladesh. The project company has achieved financial closure for the project with a group of lenders that includes
Japan Bank for International Cooperation (JBIC) & Asian Development Bank (ADB) and all requisite conditions for availing drawdown under the loan agreements have been satisfied.
The Project is to build, own, and operate a 745 MW (net output: 718 MW) natural gas combined-cycle power project in Meghnaghat, Narayanganj, located approximately 40 km southeast
of Dhaka (the Project / Phase 1).
Reliance Power's wholly owned subsidiary Samalkot Power (Samalkot Power) has received
the approval from the Export Import Bank of the United States (US Exim Bank) to sell one module of
equipment (Module 1) to Samsung C&T Corporation (Samsung C&T) of South Korea, who is the
EPC contractor for the Project, for Rs. 1540 crore.
Notice to Proceed has been issued by the Project Company to Samsung C&T, who in turn has issued
the Notice to Proceed to Samalkot Power for supply of equipment. Samalkot Power will supply one
module of world-class equipment procured from internationally reputed original equipment
manufacturers to the Phase 1 Project in Bangladesh.
Reliance Power's net worth is Rs. 12,063 crore and Debt to Equity Ratio is 2.24:1, which is among
the lowest in the industry (31 December 2020). Reliance Power will achieve a total debt reduction of
upto Rs. 3,000 crore by March 2021
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