Baker McKenzie and Farooq & Associates have advised Reliance Bangladesh LNG & Power on its $642 million financing of a 718 MW gas-fired thermal power generation project in the South Asian country, with Clifford Chance and Dr. Kamal Hussain & Associates representing the lenders.
Reliance Bangladesh LNG & Power is a 51:49 joint venture between India’s Reliance Power and Japan’s JERA. This marks the first time that a Japanese sponsor has taken a leading role in the development of a Bangladeshi power project.
The project is located in Meghnaghat, about 40km from the Bangladeshi capital of Dhaka. It will be the largest independent gas-fired power generation facility in the country, and is scheduled to begin operations in 2022.
The lenders include Asian Development Bank, Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) and commercial banks MUFG Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation and Société Générale S.A.
Partners Nicholas Wong, Matthew Buchanan, Hans Menski, Nadia Kalic and Ross Howard handled the deal for Clifford Chance.
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