Big push for renewable energy as companies plan to invest more than Bt130 billion this year

Published onApril 20, 2018

Energy and non-energy firms are planning investments of more than Bt130 billion in renewable energy this year, both at home and abroad, confident of strong growth in global demand for alternative energy. Bangchak Corporation Plc has set aside an investment budget of Bt30 billion…PTT Plc has also set aside an investment budget of up to Bt16.3 billion for alternative energy, which is a part of its efforts to drive sustainable business growth in the long-term.

Research by Kasikorn Research Centre estimates investments worth up to Bt150 billion in alternative energy in Thailand from 2016-18. The centre also forecasts investment in alternative energy in Thailand from 2019 to 2036 will be as high as Bt535 billion. Solar power is the leader among investments in alternative energy, followed by wind, biomass and waste, the research said. Thailand’s Power Development Plan 2015 has set targets for the country to use alternative energy up to 19,684.40 megawatts by 2036. Currently, 8,271.24MW, or about 42 per cent of the target, has been achieved. This means the country needs more investment in alternative energy to produce 11,413.16MW from this year until 2036.