Bangladesh's 718MW gas-fired plant bags $200m funding

It includes a $100m loan from Asian Development Bank.

Reliance Bangladesh LNG and Power Limited (RBLPL) has received a $200m funding from the Asian Development bank (ADB) for the building and operation of a 718MW combined-cycle gas-fired power plant in Bangladesh, according to a press release.

The project aims to ease ongoing energy shortages and drive further private sector investments in the country’s power sector. To be located on the banks of the Meghna River, southeast of Dhaka, it is expected to boost national generation capacity by about 4%,

The assistance comprised a $100m loan from ADB and a $100m loan from the Leading Asia’s Private Infrastructure Fund (LEAP), to be administered by ADB. The project is also co-financed by the Japan Bank for International Cooperation as well as four commercial banks.

LEAP was established in 2016 with a $1.5b capital commitment from the Japan International Cooperation Agency, focussing on delivering private sector infrastructure projects considered to be sustainable.