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Energy Ministry seeks Bt3 billion budget to boost startups

Energy Ministry seeks Bt3 billion budget to boost startups

THURSDAY, August 01, 2019
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The Energy Ministry is set to revise the Power Development Plan for 2018-2037 with the aim of boosting start-up businesses, Energy Minister Sontirat Sontijirawong said.

Speaking at a seminar on the direction of the energy industry hosted on Wednesday by the Thansettakit newspaper, Sontirat said that the PDP revision is in line with such future energy plans as the energy conservation system while also providing an opportunity for start-ups in the energy business to join the development.

The ministry is also open to more opinions on the revision. Sontiwat said that the new plan will not affect ongoing construction like a new powerplant in the west of Thailand for which a deal has already been finalised. 

According to the news report from ministry of energy, the ministry is seeking funding to support start-ups with a budget of Bt3 billion.
Sontirat assured participants that the revision would offer investment opportunities for the private sector and on a community basis with the establishment of a community power plant.

Communities will be able to buy back shares from the investment, which will focus on renewable power plants. He also instructed related state agencies to map out zones for the establishment of community power plants and keep them within reach of the transmission network.

Sontirat also asked the Energy Conservation Fund, which will be financing this move, to revise its criteria for seeking funding to support the promotion of this community power plant development and come up with a proposal for his consideration next week. The fund has a budget of Bt12 billion.

The minister said the PDP revision must also be in line with Thailand’s policy of becoming Asean’s power hub. If all plans are achieved, the price of electricity in Thailand will drop to less than Bt3.576 per unit – a target that should be achieved in the next 20 years as set down in the current PDP.

He added that though he cannot specify when the PDP revision will be completed, as it requires the opinion of many parties, he could promise that the review will not affect existing projects.

Related  Topics : Ministry sets sights on boosting access to electricity