Transcript
Thailand is racing toward a cleaner future—with bold goals to slash emissions by 20% by 2030, achieve carbon neutrality by 2050, and reach net-zero emissions by 2065.
But today, fossil fuels still power 72% of its electricity.
So, how can Thailand jumpstart its renewable energy revolution?
Thailand’s Power Development Plan targets 18 gigawatts of new renewable capacity by 2037—including 10 gigawatts of solar.
But there’s a catch: solar and wind power are intermittent. Without enough energy storage, scaling up renewables is a challenge.
To incentivize the transition, Thailand launched a Feed-in-Tariff scheme in 2022, where the government will buy up to 5 gigawatts of clean energy from solar, wind, and biogas projects.
ADB mobilized a financing package for the Gulf Renewable Energy Company Limited or GRE, a subsidiary of ADB’s longtime client, the Gulf Development Public Company Limited.
Under this package, GRE will construct 12 renewable energy projects—8 solar power projects and 4 solar and battery storage projects.
These projects will reduce greenhouse gas emissions by over 600,000 tons of carbon dioxide equivalent annually, equal to taking 130,000 gas-guzzling cars off the road or powering 75,000 homes with clean energy instead of coal.
By January 2025, five solar projects were live—powering Thai communities. The remaining seven are expected to go live within the year.
This partnership proves that collaboration can turn ambition into action.
ADB and the private sector: Powering Thailand’s renewable revolution.