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Thailand is the latest country in Southeast Asia to recognise the untapped potential of floating solar technology after EGAT announced five pilot projects last month. The country’s masterplan includes the installation of floating solar panels in eight hydropower plants nationwide with a total capacity of 1,000 megawatts (MW) over the next two decades.
With its feed-in tariff set to expire at the end of June, Vietnam is considering different levels of payment, classified across three irradiation regions and involving four solar technologies. Future payments would range from $0.0659-0.0985/kWh, with the cloudy north in line for the highest tariffs and with the government likely to revise tariffs for new projects every two years.
With Vietnam’s energy demand projected to increase by more than 10 per cent annually in the next five years and required power capacity to double, the country is moving to diversify its energy mix, including plans to generate more power from renewable sources. The rooftop solar market will be essential for Vietnam to meet its massive energy needs.
The capacity of non-hydro renewables may expand to 21% of Thailand’s total power capacity mix by 2028, according to a report, forecasting capacity growth in the renewables sector to be robust over the coming decade driven by the biomass and solar sectors as the Thai government ushers the country away from a reliance on natural gas-fired power.