Nuclear power is key to rising green energy demand, says BOI

During a roundtable session hosted by Krungthep Turakij, BOI secretary-general Narit Therdsteerasukdi explained that electricity consumption in the industrial sector accounts for more than half of the country's total usage and is expected to increase further as industries transition to more technology-driven operations.

"There are also industries experiencing a significant surge in electricity demand, such as semiconductors, electronics, electric vehicles (EVs), and battery manufacturing," he said.

Narit emphasised that electricity stability and clean energy availability are key factors influencing large companies' investment decisions in Thailand.

"Small modular reactors (SMRs) will help meet the growing demand for electricity. It is expected that new investments over the next decade will double the demand for clean electricity compared to the past ten years," he said.

BOI secretary-general Narit Therdsteerasukdi

Narit noted that SMRs are among the alternative energy sources that can support rising demand, alongside existing options such as solar, wind and battery storage.

"We are exploring the possibility of hybrid clean energy solutions to enhance stability and flexibility," he said, adding that this approach aims to overcome the cost limitations of SMRs while fostering public acceptance.

He also called for the development of a skilled workforce, advancements in radioactive waste disposal and recycling technologies, and efforts to ensure that SMRs become a key component of the future energy industry.

Praiphon Khumsap, former dean of Thammasat University’s Faculty of Economics

Safety, cost and security

Praiphon Khumsap, former dean of Thammasat University’s Faculty of Economics, confirmed that SMRs can enhance Thailand’s energy security. However, he emphasised the need to consider safety, cost-effectiveness and the security of energy sources.

He noted that the technology remains expensive, with costs estimated at around 30 billion baht. He urged the government to support further development to reduce costs.

"The most important thing is to make clean energy an alternative that promotes sustainability and meets the country’s long-term development needs," he said.

Despite challenges related to construction and emerging technologies, he expressed confidence that advancements would eventually make SMRs practical and cost-effective.

"Ultimately, I still believe that investing in nuclear energy is a good choice, as it will strengthen energy security and support future growth," he concluded.