Asian Development Bank is providing a $170 million loan for a natural gas fired power plant in Nong Saeng, Udon Thani province, Thailand.
The state-owned Electricity Generating Authority will purchase the power under a 25-year agreement.
Japan's Mitsubishi Heavy Industries will build the 1600MW plant's facilities, to be developed and operated by Japan-based J-Power.
Thai energy firm PTT Public Company will supply gas for the project.
It will be equipped with combined cycle technology.
The project will also receive more than a combined $1bn in loans from the Kasikorn bank, Siam Commercial Bank, Japan Bank for International Cooperation and Mizuho Corporate Bank
The plant is expected to be running by 2014 and is expected to avoid an estimated five million tonnes of carbon dioxide emissions a year.
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