Japan’s Electric Power Development Company (J-Power) has agreed to supply electricity to the Electricity Generating Authority of Thailand (EGAT) in a deal worth $1.2bn.

The African Development Bank has approved a loan of $2.6bn (€1.86bn) for Eskom’s Medupi power project at Lephalale in Limpopo province, South Africa.

The coal-fired power project with an installed capacity of 4,764MW is estimated to cost $16.6bn (R124.42bn) and is expected to provide additional generation capacity of 4,764 MW.

The 20-year loan will be utilised for the supply and installation of boilers and turbo-generators at the plant.

Eskom acting chairman Mpho Makwana said that the loan comes at a crucial and significant time for South Africa as it faces the challenge of balancing supply of electricity with the demand of a growing economy.