Reliance Power Limited and JERA Co. Inc., through their joint venture project company, are developing a new gas-fired power generation project in Bangladesh. The project company has achieved financial closure for the project with a group of lenders that includes Japan Bank for International Cooperation ("JBIC") & Asian Development Bank ("ADB") and all requisite conditions for availing drawdown under the loan agreements have been satisfied. The Project is to build, own, and operate a 745 MW (net output: 718 MW) natural gas combined-cycle power project in Meghnaghat, Narayanganj, located approximately 40 km southeast of Dhaka (the "Project" /"Phase 1").