LONDON, Dec. 18, 2016 /PRNewswire/ -- Includes 3 FREE quarterly updates
Driven by supportive policy and regulatory environment as well as government's commitment to diversify the country's power mix, Thailand's non-hydro renewables sector will register strong growth over the coming decade. Solar and biomass & waste sectors will see the fastest development, while wind power additions will be less notable. Despite robust growth forecasts, we hold our view that progress will be too slow to reach ambitious long-term renewables development targets set by the government.
Forecast and Latest Updates
- This quarter we have maintained our previous forecasts for Thailand's non-hydro renewables industry. We project the renewables capacity to rise from 3.3GW in 2015 to around 6.3GW by 2025. This growth will be largely fuelled by solar and biomass & waste sectors, while additions from wind power will remain limited.
- Non-hydro renewables generation will average 6.4% annual growth rate between 2016 and 2025, lifting the total generation figure to 16.3TWh by the end of our forecast period. Biomass & waste sector will remain the largest contributor, accounting for more than 60% to the total energy generation, with another 30% coming from solar by 2025.
- Thailand-based Techen Technologies started production at a photovoltaic (PV) panel manufacturing plant in Thailand in October 2016. Located in the eastern province of Chonburi, the factory has entailed an investment of around USD100mn. The facility has a capacity to manufacture 300MW of photovoltaic panels a year.
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