Srettha touts clean energy development plan to lure foreign investment

However, during the transition from “brown” (polluting) energy to green energy, Srettha said the government would seek other energy sources – including gas from the overlapping claims area (OCA) in the Gulf of Thailand.

Srettha made the pledge in his keynote speech at the Thailand Energy Executive Forum, held at the Pullman Bangkok King Power Hotel by the Thailand Energy Academy.

The PM assured the audience that his government had a long-term plan to develop sustainable energy and infrastructure.

He said numerous foreign investors had expressed interest in Thai clean energy investment during his trips abroad over the past six months.

He also cited Thailand’s ranking of 30th in the world on the latest Sustainable Development Report (SDR) as proof of the kingdom’s progress in moving to a low-carbon economy. He added that Thailand’s SDR ranking was the highest among Asean nations.

Srettha said he would tout Thai clean energy development to German investors when he visits Europe’s largest economy next month. Investors from the US and China had also expressed interest in Thai clean-energy projects, he added.

The prime minister said Thailand already had decades of experience in clean energy thanks to hydropower dams built over 50 years ago. The dam’s reservoirs also had potential to become floating solar farms, he said.

Thailand already claims to have the world’s largest floating solar farm, on the Sirindhorn Dam reservoir in Ubon Ratchathani, with plans to build another 15 similar projects by 2037 as it pushes for carbon neutrality by 2050.

However, the government would ensure the availability of fossil fuels during the transition period, especially natural gas, he added.

The PM said he would hold further talks with Cambodian Prime Minister Hun Manet for joint development of untapped reserves in the OCA thought to hold oil and gas worth about 20 trillion baht.

The government realised that electricity was crucial for business and farm operations but could not just order Egat (the Electricity Generating Authority of Thailand) to lower prices as it would then have to use taxpayers’ money to subsidise the price. However, he pledged to consider special low electricity rates for farmers.

Along with energy development, the government was also committed to developing infrastructure such as deep seaports to facilitate exports, Srettha said. He also reiterated the vow to build a southern land bridge as an alternative cargo route to the Malacca Strait.

The prime minister ended his speech with a quip about power. He recalled his reply to a foreign reporter who had asked what surprised him the most about being the PM.

“The amount of power I have. But most of the time the lack of it.”