Thailand Plans To Boost Renewable Energy Output To 25% Of Total

By Bloomberg, July 17th, 2013

Thailand plans to increase production of electricity from renewable sources to 25 % of total output over the next 10 years to reduce imports and boost energy security, the Ministry of Energy said. Power generation from renewables will jump by 51 % to 13,927 megawatts by 2021, from a current target of 9,201 megawatts, the ministry said. Under the new goal, approved by the National Energy Policy Committee, output from biomass will be 4,800 megawatts; biogas 3,600 megawatts; solar 3,000 megawatts; wind 1,800 megawatts and the balance will come from hydropower and waste, it said.

Thailand is providing incentives for renewable energy projects to reduce its reliance on fossil fuels, which account for more than 80 % of the nation’s energy consumption, the U.S. Energy Information Administration said. Companies like Demco Pcl (DEMCO), a builder of electricity networks, and Gunkul Engineering (GUNKUL) Pcl, a power producer and engineering company, both will benefit from the government’s plan to diversify Thailand’s energy sources, Maybank Kim Eng Securities Thailand Pcl (MBKET) said.

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