IFC backs govt's clean energy goals
The International Finance Corporation (IFC), a member of the World Bank Group, is supporting Thailand's Department of Alternative Energy Development and Efficiency towards its goal of clean sources contributing about a quarter of the country's energy ne
The IFC will work with the department, which is part of the Ministry of Energy, to review the country’s legal and regulatory framework and design business models that will reduce market barriers and support the development of clean energy, with a focus on wind and solar power.
"During the past two decades, energy consumption in Thailand has continuously increased at an average yearly rate of 4.4 per cent," said Krairit Nilkuha, the department’s director-general. "We are determined to improve energy efficiency and develop renewable energy to mitigate any climate-change effects.
"Our collaboration with the IFC in clean-energy promotion will significantly support us in addressing major energy issues."
The IFC will assist the department in seeking input from other government agencies and stakeholders on how to refine renewable-energy policies and regulations.
"Although Thailand has enacted renewable-energy legislation, investors are still facing barriers when they invest in renewable-|energy projects," said Ian Crosby, |the IFC’s sustainable business advisory manager for East Asia and the Pacific.
"IFC’s cooperation with the Thai government will help push for greater use of renewable and alternative energy, and increase private-sector participation."
Thailand currently relies on expensive imports to supply more than 60 per cent of its primary commercial energy needs. As one of the world’s 25 top emitters, the Kingdom hopes to reduce greenhouse-gas emissions by substituting traditional energy with renewable sources.
The IFC-Canada Climate Change Programme has provided US$680,000 (Bt21 million) and the Clean Technology Fund $500,000 in financing to help the IFC support the department’s efforts.
"The global challenge of climate change requires a global solution, and Canada is proud to support environmental efforts such as these," said Peter Kent, Canada’s environment minister.
The IFC is the largest global development institution focused exclusively on the private sector.
