Reliance Power Limited (RPower) has signed a partnership agreement with the Japanese utility JERA for implementing a 750 MW combined cycle power project (CCPP) in Bangladesh. RPower will hold 51 per cent stake in the joint venture company while JERA will hold a 49 per cent stake. The transaction will result in a debt reduction of Rs 8.35 billion ($116 million) for RPower, payable to the US Exim Bank. The project would be developed on a build-own-operate model and is expected to entail an investment of $750 million. RPower would relocate one module of its CCPP at Samalkot in Andhra Pradesh for the Bangladeshi project.