PM to lure investment with clean energy surge

The Thai government must guide energy policy to ensure success for its priority of ensuring a future of appropriate and competitive electricity bills, the PM emphasised.

Srettha’s keynote speech at the Sustainability Forum 2024 event was titled “Clean Energy for Thailand’s Economy through Sustainability”.

He noted that Piyaraphon Saliratthavibhaga, the Deputy Prime Minister and Minister of Energy, had announced that the electricity bill for January to April 2024 is expected to be around 4.10 baht per unit.

Various departments have examined coming energy costs and believe the sum is feasible, and the government will work for the best outcome, said Srettha.

There will be discussions today with relevant agencies, including the Ministry of Energy, PTT and the Provincial Electricity Authority.

To attract investment, Thailand aims to increase the current 28% share of “green” energy and renewable energy to 50% of the total electricity produced in the country, said the Prime Minister.

Large companies have increasingly expressed their interest in utilising clean energy for production to achieve their respective carbon reduction targets.

“Currently, Thailand is considered highly advantageous in this regard compared to other countries in the ASEAN region,” he told the audience.

“This is due to the top-level reliability of our electricity, the well-developed power transmission infrastructure, and a private sector ready to invest in clean energy.”

Particularly in the case of solar cells, there is a significant capability for immediate deployment, he said, and this positions Thailand as a leader in the region in terms of solar energy development.

Srettha shared his experience of a recent visit to Laos, in which the government requested Thailand’s assistance in providing hydropower electricity to Singapore, which is seeking a clean energy source.

“I understand that Singapore has a demand for clean energy,” he said.

“However, in the competitive global investment landscape, there is fierce competition for attracting investments. I have informed the Laotian government that Thailand will not allow the electricity to pass through to Singapore, but instead, Thailand will purchase this electricity.”

That decision would enhance Thailand’s shift to providing clean energy. “I have made this announcement to make it clear to investors that Thailand is prioritizing this policy,” said the prime minister.

The event was organized by Krungthep Turakij Newspaper.