Meghnaghat CCGT plant nears debt signing
Sponsors of the $1 billion 718MW LNG Meghnaghat combined-cycle gas turbine (CCGT) project in Bangladesh – JERA (49%), a joint venture between Tokyo Electric Power and Chubu Electric Power Company, and Reliance Power (51%) – are expected to sign a $650 million facility to back the scheme this month.
The sponsors initially targeted signing last month but the ceremony was delayed due to the lack of loan documentation as offices were closed to curb the Covid-19 crisis.
Mizuho is financial adviser on the deal, while other participants include: MUFG, SMBC and Societe Generale. ADB, JBIC and Islamic Development Bank and Infrastructure Development Company will also put up direct loans. Baker McKenzie provided legal counsel to the sponsors, while Clifford Chance acted for the lenders.
