RPower, Japanese energy major JERA to set up 750 MW power plant in B'desh

New Delhi: Reliance Power on Tuesday said it, along with Japanese energy major JERA, will jointly set up a 750 MW gas-based combined cycle power project (phase-1) at Meghnaghat in Bangladesh.

Reliance Power will hold 51 per cent stake in the joint venture company, while JERA will hold 49 per cent stake, the company said in a statement.

"Reliance Power signed a partnership agreement with JERA, one of the largest power utilities of Japan, for jointly setting up 750 MW gas-based combined cycle power project (phase-1) at Meghnaghat, Bangladesh," the statement said.

The project agreements for phase-1 were signed with the authorities in Bangladesh on Sunday.

Reliance Power, the power generation company of Reliance Group, had signed a memorandum of understanding (MoU), during the visit of Prime Minister Narendra Modi to meet Prime Minister of Bangladesh Sheikh Hasina at Dhaka in June 2015, for setting up 3,000 MW gas-based combined cycle power project in phases in Bangladesh.