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Thai e-vehicle mogul urges launch of Bt2tn energy fund

Sep 18. 2020
Somphote Ahunai, CEO of Energy Absolute
Somphote Ahunai, CEO of Energy Absolute
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By The Nation

The government was urged on Thursday to launch a nation-building energy fund worth Bt2 trillion to strengthen the new S-Curve sectors, existing industries and the grassroots economy.

Somphote Ahunai, CEO of Energy Absolute, told a seminar organised by the Institute of Business and Industrial Development that the fund could be established via gradual issuance of government bonds.

The bonds should carry a maturity length of 30 years and an interest rate of 3 per cent per annum, he added.

Of the total fund, Bt200 billion should be spent on supporting power producers, building power transmission lines and expanding the network of charging stations. It should also support electric vehicle (EV) producers and incentives for EV users.

Somphote said if all 20 million vehicles in Thailand switched to electric power, Thailand would save Bt100 billion per year in energy imports. The government could use this saving to pay the fund's interest and principle to bondholders.

The remaining Bt1.8 trillion of the fund could be used to boost core industries and the grassroots economy, he added.

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