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Clean Energy Finance and Investment Roadmap of Thailand

image of Clean Energy Finance and Investment Roadmap of Thailand

Thailand has adopted ambitious clean energy targets to meet its long-term climate goals, committing to reach carbon neutrality by 2050 and net zero greenhouse gas (GHG) emissions by 2065. Transforming Thailand’s energy system, alongside broader development objectives, is critical to meeting these goals as the energy sector accounts for 69% of Thailand’s total GHG emissions.

The Clean Energy Finance and Investment Roadmap of Thailand (“the Roadmap”) outlines key actions to unlock finance and investment in two clean energy sectors: (i) renewable power, with special attention to small-scale renewable power systems; and (ii) energy efficiency in buildings, with a focus on cooling applications. The two sectors were selected in close consultation with the Department of Alternative Energy Development and Efficiency (DEDE) of the Ministry of Energy of Thailand. The Roadmap provides a comprehensive overview of the progress to date, policy context and challenges to mobilise near-term finance in those sectors, as well as estimates of the finance needs to reach Thailand’s clean energy plans. The report also includes a roadmap action plan, suggesting non-prescriptive recommendations and actions that the Government of Thailand, financial institutions, energy service companies, academia and the international development community active in the country could undertake to foster clean energy investments in Thailand.

English

Executive Summary

Thailand has adopted ambitious clean energy targets to meet its long-term climate goals, committing to reach carbon neutrality by 2050 and net zero greenhouse gas (GHG) emissions by 2065. Transforming Thailand’s energy system is critical to meet Thailand’s climate goals, as the energy sector accounted for 69% of Thailand’s total GHG emissions in 2018, as well as broader development objectives, including access to affordable energy and job creation. To achieve its climate goals, Thailand’s Long-Term Low Emissions Development Strategy (LT-LEDS) includes a target to reach 50% of new power generation capacity from renewables by 2050. Thailand’s LT-LEDS estimates that the share of renewable electricity will be 68% of total electricity generation by 2040 and 74% by 2050. The country’s share of renewable energy was about 13% of total generation in 2022.

English

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