"The electricity generated will be sold under a long-term power purchase agreement with the Bangladesh Power Development Board (BPDB) for a period of 22 years from the start of commercial operation," Reliance Power said.
Anil Ambani, Chairman of Reliance Power said this financing tie-up represents one of the largest funding tie-ups for a project in Bangladesh's power sector.
Reliance Power said, with this loan agreement, all major contracts required for the development of the project have been completed.
"Going forward, Reliance Power and JERA will focus on full-scale construction and work steadily towards achieving commercial operation in 2022," the company added.
Shares of Reliance Power were trading 1.18 per cent lower at Rs 3.34 apiece on BSE.
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