The Asian Development Bank (ADB) has approved $70m in investments for a 73MW solar power plant in central Thailand.

The plant, being built by Natural Energy Development Company, is expected to be one of the largest solar photovoltaic projects in the world.

The Electricity Generating Authority of Thailand will buy all net 55MW generated from the plant.

Natural Energy Development Company is also working with the ADB to pre-finance certified emission reductions under the bank’s Carbon Market Initiative.

In addition to the loan, the ADB will provide a further $2m grant from its Clean Energy Financing Partnership Facility to cover contingency costs from the use of highly complex, innovative thin-film photovoltaic technology.