Thailand is all set to issue new regulations for the procurement of electricity generated from renewable energy by the private sector.
It has been reported that the National Energy Policy Committee has already approved the opening of a new quota for purchasing electricity from renewable energy sources.
It will be under a Feed-in-Tariff (FiT) scheme between 2022-2030 for power plants with no fuel costs.
To be noted, Thailand aims to increase renewable energy's share in the country's overall power mix to at least 50% by 2050. The country aims to achieve carbon neutrality and net-zero greenhouse gas emissions by 2050 and 2065, respectively.
According to a report, “the Energy Regulatory Commission (ERC) has issued draft regulations setting out the requirements, terms and conditions for the New RE Quota.”
As per the New RE Quota, projects awarded a PPA must be new projects and not existing ones operating under any other scheme or quota.
“Total target MW of the New RE Quota is 5,203 MW (335 MW for biogas, 1,500 MW for wind, 2,368 MW for ground-mounted solar, and 1,000 MW for Solar+BESS),” the report mentioned.
It has been informed that “the New RE Quota is expected to generate new investment of up to THB 200,000,000 million in Thailand's energy sector.”