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Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Thailand: New Round of Renewable Energy Procurement
Thailand | Publication | March 2023
Thailand's National Energy Policy Council has approved an increase in renewable energy power generating capacity from 9,996 MW to 12,700 MW to meet rising electricity demand. The council has approved a new procurement scheme, which includes 3,668.5 MW of total capacity from ground-mounted solar farms (2,632 MW), wind energy (1,000 MW), bio-gas (6.5 MW), and industrial waste (30 MW).
The relevant power purchase agreement will be non-firm, with a project life of up to 20-25 years. The Energy Regulatory Commission will launch the new scheme after the procurement under the previous program is completed (i.e. tentatively on or around 19 April 2023). This move is expected to attract significant investments and create job opportunities, while demonstrating Thailand's commitment to achieving carbon neutrality and net-zero carbon emissions by 2050 and 2065, respectively.
Our team at Norton Rose Fulbright will keep monitoring this matter for more updates.
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