The Thai solar manufacturer SPCG will develop a 500 MW solar power project in the provinces of Chonburi, Rayong and Chachengsao (all located in south-eastern Thailand) under the country’s Eastern Economic Corridor (EEC) Development scheme. The project’s development will be divided into two phases. The 300 MW first phase will require an investment of THB12bn (US$331m), while the 200 MW second phase will require THB8bn (US$221m).
Thailand unveiled a new National Energy Plan 2022 which is expected to increase the share of renewables in new power capacity to 30% by 2030 and 50% by 2040. The country also plans to become carbon neutral between 2065 and 2070. In addition, Thailand has set a goal to reach 28 GW of renewable capacity by 2037, including 15.5 GW of solar. In 2022, renewables made up 26% of the country’s installed capacity (8% for hydro, 8% for biomass, 6% for solar, and 4% for wind), while gas-fired capacity still dominated with 66%.
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