Thailand’s Renewable Energy Transition

Thailand is reshaping its energy system through large-scale renewable deployment, market reforms, grid modernization, and complementary firm power solutions.

WHAT 
  • The share of renewable energy in Thailand’s total electricity consumption is expected to rise from around 20% in 2023 to 51% by 2037. Renewable sources will account for approximately 52% of total power generation capacity by 2037, up from 23% in 2024 (Thailand Power Development Plan).
  • According to Thailand’s Board of Investment, from 2022 to 2037 new investments in renewable energy are anticipated to amount to 247 billion SEK. Meanwhile, investments aimed at enhancing energy efficiency across the industrial, commercial, residential, and agricultural sectors are projected to reach 314 billion SEK.
 
HOW 

Solar Power & Floating Solar

  • Solar energy is the backbone of Thailand’s renewable strategy. Capacity is set to rise from 3,193 MW in 2024 to 33,269 MW by 2037, including 2,656 MW from 15 floating solar projects on six hydro reservoirs, scheduled for completion between 2024 and 2030.

Direct PPAs

  • Thailand will implement Direct Power Purchase Agreements (PPAs) by the end of 2025, enabling businesses to buy renewable energy directly from producers—starting with 2,000 MW for BOI-promoted projects like data centers.

Biomass Transition

  • EGAT aims to turn Mae Moh Power Plant Unit 8 and 9 into a biomass power plant in response to carbon neutrality.

Grid Modernization

  • Thailand is investing in its largest-ever Smart Grid transformation, through a 16 billion SEK, 15-year program featuring AI-driven monitoring, automated distribution, and predictive analytics to support renewable integration

Hydropower Investments

  • To manage intermittency from solar and wind, EGAT plans to invest THB 90 billion (26 billion SEK) in three pumped-storage hydropower plants (2,472 MW) by 2037. In parallel, four new small-scale hydro plants (6.75 MW) will come online between 2025 and 2026.

Nuclear Power

  • Thailand is increasingly exploring nuclear energy as a long-term option, with particular interest in small modular reactors (SMRs). These are viewed as more compatible with Thailand’s grid structure, scalable deployment needs, and evolving safety and cost considerations.

Thailand’s energy transition is not only about expanding renewables, but about building a smarter, more resilient power system—combining clean generation, market reform, grid intelligence, and long-term system stability.

CONTACT US 

For more information contact Pongsatorn Chanwong at pongsatorn.chanwong@business-sweden.se.