Thailand Power News

Recent industry report about Thailand Power company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Thailand Power Market industry experts.

Thailand Power News

  • May 2023: Mae Hing Son province launched a solar power plant and battery energy storage project. The Electricity Generating Authority of Thailand (EGAT) held a commercial operation date (COD) ceremony for a 3 MW solar power plant and 4 MW battery energy storage system project.
  • May 2023: Acciona Energia and the Blue Circle announced inking a 25-year power purchase agreement (PPA) in Thailand for five wind farms with a total capacity of 436 MW. The projects were picked through a bidding process by the Energy Regulatory Commission (ERC), and these projects will be developed in phases. The first wind farm is expected to begin construction in 2024, and all five projects will be completed by 2030.
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  • April 2024: After a combined investment of USD 15,841,000 from the federal and provincial governments, a new solar energy project would provide the Ulkatcho First Nation with clean energy. The project is set to decrease the need for diesel generation in the remote community by about 64%, equal to a reduction of 1.1 million liters of diesel annually. It is estimated to be one of Canada's largest off-grid solar projects.
  • January 2024: The President of India approved the implementation of a new solar power scheme for vulnerable tribal groups (PVTG) habitations/villages from 2023-2024 to 2025-2026. The scheme would be implemented under Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN). Under the scheme, off-grid solar systems would electrify about 100,000 un-electrified households in PVTG areas where electricity supply through the grid is not techno-economically feasible.
  • May 2024: Jindal Steel & Power Ltd announced the commissioning of the building integrated solar project with an installed capacity of 3.25 MWp spread across an area of 2,00,000 sq. ft. The project, built by the team at SG Ornate Solar Solutions (a joint venture of APL Apollo Tubes & Ornate Solar), is expected to generate more than 100 million units of electricity over its life expectancy, contributing to offsetting 4,500 tons of CO2 emissions annually.
  • February 2024: Scientists in the Middle East simulated the use of different BIPV systems on Dubai’s high-rise buildings. They found that BIPV may be superior to rooftop power generation for buildings with more than seven floors. The main setting conditions for simulation were assumed to be an occupancy density of 0.2 person/m2, sensible heat of 65 W/person, and a latent heat of 54 W/person. Owing to building load reduction and power generation, BIPVs can be a very efficient alternative in Dubai.
  • April 2024: Octopus Energy, a European renewable energy group specializing in sustainable energy, announced investments in Ocergy, a US-headquartered floating offshore wind tech company, to boost the development of floating offshore wind farms globally.
  • April 2024: Vårgrønn and Flotation Energy, a JV between Plenitude (Eni) and HitecVision, announced that their floating offshore wind project, Green Volt, was granted offshore planning approval. With onshore consent announced earlier, Green Volt is expected to be the first commercial-scale 560 MW floating wind farm offshore Scotland in Europe.
  • March 2024: Energea, an online investment platform that provides access to portfolios of renewable energy projects, announced the completion of 12 new projects in its Community Solar in Brazil portfolio. These latest additions mark a significant milestone in Energea's mission to provide sustainable and efficient energy solutions across Brazil.
  • October 2023: ENGIE Brasil Energia awarded ANDRITZ a contract for the modernization of the 424 MW Jaguara hydropower plant. The ANDRITZ scope of supply includes the modernization of the four Francis turbine-generator units with a capacity of 106 MW each, governors, excitation system, automation system, and all related auxiliary systems. ANDRITZ Hydro Brazil will execute the contract.
  • February 2024: The French development agency, Agence Française de Développement, announced that it was seeking to engage individual regional or international specialists to form a panel of experts to provide technical assistance services for the development of the 1.2 GW Bac Ai pumped-storage hydropower plant in the Ninh Thuan province of Vietnam.
  • January 2024: Nexif Ratch Energy Investments Pte. Ltd, an owner/operator of clean-energy power, acquired the 30 MW Minh Luong hydropower plant, a run-of-river facility with peak-hour storage in Lao Cai province, Vietnam. The acquisition contributes to strengthening the Nexif Ratch Energy portfolio’s growth path in renewables and will create a stable and recurring income through a long-term power purchase agreement.
  • April 2024: Mahindra Group, a conglomerate that spans technology to tractor manufacture, announced an investment of INR 12 billion (USD 144 million) in the establishment of solar and wind energy projects. The renewable projects are likely to be developed by Mahindra Susten, the group's renewable, with a hybrid capacity of 150 megawatts (MW).
  • November 2023: The UK government increased wind farm subsidies offshore by 66%. Prior to Allocation Round 6 (AR6) of next year, the maximum strike price for suspended offshore wind projects was raised by 52%, from EUR 116/MWh to EUR 176/MWh, and by 66% for offshore wind projects, from EUR 44 (USD 54.5)/MWh to EUR 73/MWh.
  • In June 2022, the National Energy Regulator of South Africa (NERSA) announced approval of 16 power facilities with a combined capacity of 211 MW with 15 of the project applications for solar PV plants. The new solar energy projects are anticipated to operate under the regulatory framework of the country for distributed-generation power facilities.
  • In May 2022, Sola Group secured approval from the National Energy Regulator of South Africa (Nersa) to build two 100 MW distributed solar power plants.
  • June 2023: Canada's Minister of Natural Resources announced a USD 10 million contribution to BioLesna Carbon Technologies LP, a joint venture between BC Biocarbon and Dunkley Lumber Ltd., for a new biorefinery in Carrot River, Saskatchewan.
  • June 2023: Australia's Victorian government announced USD 8 million bioenergy fund, Victoria's largest investment in bioenergy to date, designed to significantly boost the region's bioenergy capacity. The fund supports 24 projects and will ensure that farming and food production waste, such as cooking oil, dairy excess, and vegetable offcuts, will be converted into electricity, heat, gas, or liquid fuel.
  • May 2023: Subterra Renewables, a leading Canadian geothermal developer and engineering firm, announced its winning bid in TerraScale Inc.'s Request for Proposal (RFP) for its Green Snow Project. The Green Snow Project is an ambitious geothermal energy initiative located in Northern Japan. It is a groundbreaking collaboration between TerraScale and Climate Transition Development Corporation and Global Family.
  • February 2023: Fuji Electric Co., Ltd. announced that it was awarded a contract for a supply of geothermal energy project for the Menengai geothermal power station in Kenya by Toyota Tsusho Corporation, which entered into an EPC contract with QPEA GT Menengai Limited.
  • Jun 2023: Vestas won an order from Ox2 to supply a 27 MW order for the Eolia wind park in Apulia, Italy. The contract includes the supply and installation of six V150-4.5 MW wind turbines and a 35-year Active Output Management 5000 (AOM 5000) service agreement.
  • Jun 2023: EDP Renewables (EDPR) was awarded a 20-year feed-in tariff (FiT) of EUR 65.17 for every MWh for 159 MW of renewable capacity. The feed-in-tariff (FiT) has four projects, of which 70% are wind projects and 30% are solar projects. These projects are located in the Puglia Region of Italy.

Thailand Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)