Japan's JERA Plugs $330M Into Bangladesh Power Producer
Law360 (October 7, 2019, 9:54 AM EDT) -- Japanese energy company JERA has agreed to pay $330 million for a 22% stake in Bangladeshi power producer Summit Power, the companies said Monday.
The deal is meant to spur continued growth for Summit Power International Ltd., which touts itself as the largest independent power producer in Bangladesh, according to a statement. The company currently operates 20 power plants and produces about 12% of Bangladesh’s overall electricity. JERA Co.’s investment will assist with the continued construction of more power plants, among other things. The Japanese power producer intends to send executives and employees to Summit Power as part of the agreement,...
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