Thailand is searching for to expand renewable energy through financial loans.
The Asian Development Bank (ADB) announced on the twenty eighth that it had approved a loan contract value $820 million (about 1.15 trillion won) to Gulf Renewables, a Thai renewable energy company. The subsidies will probably be used to construct a complete of 12 renewable energy projects.
Thailand goals to put in an extra 5.5 gigawatts (GW) of renewable energy by 2030, which can replace 51% of electricity production.
This project goals to supply a stable energy supply by expanding solar energy generation and integrating battery storage systems. It consists of 8 solar energy plants (393 MW) and 4 solar energy plants (256 MW) including battery storage facilities.
Southeast Asian countries, including Thailand, have high potential for renewable energy, including solar and wind power. In 2022, 27GW of solar energy and 6.8GW of wind power were installed.
Amongst them, Thailand was chosen because the country with the very best solar energy potential, together with Myanmar and Cambodia. By 2030, solar energy is anticipated to extend by 3GW and wind power will increase by 1.45GW.
Currently, the most important renewable energy power plant in Thailand is Phitsanulok EA Solar, with 133 megawatts (MW) of solar energy installed.
This loan is provided by ADB with USD 260 million (about KRW 360 billion), and â–² Asian Infrastructure Investment Bank (AIIB) â–² German DEG â–² Export-Import Bank of China â–² Export-Import Bank of Korea with USD 529 million (about KRW 730 billion). ) is supported.
Meanwhile, ADB is supporting the installation of renewable energy to realize carbon neutrality in Southeast Asia, including approving a policy-based loan value 660 billion won for Indonesia’s energy transition last September.
Reporter Jaeseung Lee energy@aitimes.com
