Japan's JERA buys stake in power unit of Bangladesh's Summit for US$330m

Singapore-based Summit Power International is the holding company for all power assets of Bangladesh's Summit Group, while JERA is a joint venture between Tokyo Electric Power and Chubu Electric Power Co.

SINGAPORE/DHAKA: Japan's JERA Co has acquired a 22% stake in Summit Power International for $330 million, the companies said on Monday, to enable the establishment of major energy infrastructure projects in Bangladesh.

Singapore-based Summit Power International is the holding company for all power assets of Bangladesh's Summit Group, while JERA is a joint venture between Tokyo Electric Power and Chubu Electric Power Co.