Thailand unveils clean energy plan with 2.9 trillion baht investment
Thailand is advancing its commitment to reducing greenhouse gas emissions with the introduction of a new power development plan (PDP) emphasising clean energy usage. This strategic initiative is part of the broader National Energy Plan, which will be implemented from 2024 to 2037. The plan aims to transform the country’s energy landscape by prioritising renewable energy sources over fossil fuels.
The National Energy Plan anticipates generating 2.9 trillion baht (US$85 billion) in capital investments over the 13-year period. A significant portion of this investment will focus on the development of renewable energy, although some funds will still be allocated to fossil-fuel power plants. An official from the Energy Ministry, who wished to remain anonymous, shared these projections.
Despite the continued reliance on fossil fuels for power generation, their share in the energy mix is set to decline. By 2037, coal and gas are expected to constitute 48% of total fuel use, a reduction from nearly 80% earlier this year.
In contrast, renewable energy is projected to make up 51% of the energy mix, increasing from 20% at the end of the previous year. This figure includes hydropower imports from Laos.
Nuclear energy and innovative energy solutions will account for the remaining 1%, contributing to the reduction of fossil fuel consumption and electricity conservation. Solar energy is poised to play a pivotal role in cutting carbon dioxide emissions.
The PDP plans to boost solar energy development, with power generation capacity expected to reach at least 1,000 megawatts, according to the official.
“The plan does not include floating solar panels which will be separately developed by the Electricity Generating Authority of Thailand (Egat),” the official noted. Egat is set to establish floating solar farms with a total capacity of 2,700MW at reservoirs across the country between 2025 and 2029, reported Bangkok Post.
Officials are eager to increase clean energy usage following the 2021 announcement by former premier Prayut Chan-o-cha at the 26th UN Climate Change Conference. Thailand committed to taking decisive steps in combating climate change, aiming for carbon neutrality by 2050 and achieving a net-zero target by 2065.
