Thailand’s Clean Energy Drive to Attract Foreign Investment

In a bid to bolster its attractiveness to foreign investors, Prime Minister Srettha Thavisin of Thailand has underscored the government’s unwavering commitment to the development of clean energy initiatives. Speaking at the Thailand Energy Executive Forum organised by the Thailand Energy Academy on February 14, Prime Minister Thavisin emphasised the pivotal role of clean energy in Thailand’s investment landscape.

Acknowledging the necessity of transitioning from conventional “brown” energy sources to greener alternatives, Prime Minister Thavisin affirmed that the Thai Government will explore various energy options, including natural gas, as part of this transformation. He reiterated the government’s long-term strategy to foster sustainable energy solutions and bolster infrastructure, citing significant interest from foreign investors in Thailand’s clean energy sector during his recent international engagements.

Prime Minister Thavisin also highlighted Thailand’s commendable 30th ranking in the latest Sustainable Development Report (SDR) as evidence of its strides towards a low-carbon economy. With a strong foundation in clean energy dating back decades, particularly through hydropower dams established over 50 years ago, Thailand is poised to leverage its reservoirs for innovative projects such as floating solar farms.

Indeed, Thailand has already made headlines with the world’s largest floating solar farm situated on the Sirindhorn Dam reservoir in Ubon Ratchathani province. Looking ahead, the government plans to replicate this success with the construction of an additional 15 similar projects by 2037.

While emphasising the imperative of clean energy initiatives, Prime Minister Thavisin reassured the availability of fossil fuels, particularly natural gas, during the transitional phase. Furthermore, he expressed intentions to engage in discussions with Cambodian counterpart Hun Manet regarding joint exploration and development of untapped reserves in the Gulf of Thailand, estimated to hold significant oil and gas reserves valued at approximately 20 trillion THB (555 billion USD).

Thailand’s proactive stance towards sustainable energy development not only aligns with global environmental objectives but also presents lucrative investment opportunities for both domestic and international stakeholders. As the nation navigates this transition towards cleaner energy sources, it positions itself as a beacon of innovation and progress in the region’s energy landscape.