Reliance Power Eyes Financial Closure Of LNG-Fired Power Plant

Reliance Power Eyes Financial Closure Of LNG-Fired Power Plant

Reliance Power is eyeing the financial closure of USD 1 billon for its LNG-fired plant in Bangladesh by the end of 2017-18, reported a leading business daily.

Reliance Power has inked pact with Bangladesh Power Development Board (BPDP) to develop 3,000 MW of LNG power units at Meghnaghat near Dhaka and 500 mscfd LNG terminal at Qutubdia Island in Bangladesh. The first phase of 750 mw and the LNG terminal entails investment of USD 1 billion.

The company is setting up this plant by relocating equipment procured for its planned power plant at Samalkot in Andhra Pradesh that was stranded due to lack of gas. The Bangladesh project will generate earning in USD for the company as it will get dollar-denominated Tariff in this project, the daily reported quoting Chairman, Anil Ambani. Read More…

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