The Asian Development Bank (ADB) has signed a loan with Thai energy developers valued at $820 million USD, targeted toward the construction of 12 renewable energy projects across the country. The composition of these renewable energy parks mainly consists of ground-mounted solar photovoltaic (PV) plants and battery energy storage facilities. Currently, Thailand aims for renewables to make up 50% of its national energy portfolio by 2037. These efforts are enhanced by Bangkok’s 5-gigawatt renewable energy feed-in-tariff program that, at its current rate of implementation, will double Thailand’s currently installed wind and solar capacity by 2030.
Industrial-scale renewable energy parks as well as small-scale, public-private, civilian power-sharing agreements such as Bangkok’s energy feed-in-tariff program both play a major role in decarbonization as well as provide substantial business opportunity. Thailand continues to open itself up to foreign investment in energy-intensive industries such as data centers and automotive manufacturing. U.S. companies in these spaces are becoming increasingly inclined as energy consumers to source energy renewably for their operations abroad. Such large-scale solar projects made possible through the ADB and partners along with local power initiatives that build up energy grid and storage help make this possible for companies across sectors.
