Anil Ambani's Reliance Power has entered a JV with Jera Power of Japan to build a 750 MW power plant in Bangladesh. This is the largest FDI investment by India in Bangladesh. Anil Ambani will use the funds to reduce debt of hsi Reliance Power.

1. India’s Largest FDI in Bangladesh
Anil Ambani’s Reliance Power inks the largest FDI deal
for India in Bangladesh

2. Reliance Power has entered into an agreement with Japanese utility JERA to set
up a 750-megawatt (MW) power plant in Bangladesh.

3. Reliance Power will hold 51 per cent stake
while JERA will have 49 per cent in the JV.

4. In 2015, Reliance Power had signed a MoU with Bangladesh
to set up a total of 3,000 MW of power generation capacity.

5. The will help Reliance Power repay
Rs. 835 crore worth of debt.

6. Reliance Power is also the equipment provider for the project.

7. It will relocate the equipment from AP’s Samalkot power plant to Bangladesh.

8. It plans to use funds paid for the equipment
for repayment of debt worth Rs. 835 crore.

9. Stock markets have reacted positively to the news with Reliance Power shares
jumping 11% in intraday trading.

10. The project would be developed on a build-own-operate model.

11. The project is likely to cost around
Rs. 5,430 crore or $750 million.

12. This landmark project represents India’s largest
Foreign Direct Investment in Bangladesh.

13. Reliance Power’s foray will strengthen
the energy ties between India and Bangladesh.