Gulf Power Growth Plc, a number one non-public energy producer, has introduced the completion of energy buy agreements for the development of 25 photo voltaic farms with the Electrical energy Producing Authority of Thailand (Egat). This initiative is predicted to assist the government in managing electricity costs, probably lowering energy payments for customers.
The 25-year agreements mark a strategic shift in Thailand’s energy technology, with an elevated deal with photo voltaic vitality. “Egat can sidestep the volatility of gasoline costs via shopping for electrical energy from the 25 photo voltaic farms,” stated Yupapin Wangviwat, Gulf’s deputy chief govt and chief monetary officer.
Thailand, largely reliant on fuel for energy technology, has been battling rising electrical energy manufacturing prices because of the hovering costs of imported liquefied pure fuel (LNG). The dependency on expensive LNG has been a big issue within the current surge in energy payments.
The newly deliberate photo voltaic farms, boasting a mixed energy technology capability of 1,353 megawatts, are anticipated to supply a extra inexpensive different. In response to Yupapin, their manufacturing prices are considerably decrease than the present energy tariff of 4.18 baht (US$ 0.11) per kilowatt-hour, which kinds the idea for month-to-month energy payments till August.
The estimated price for the event of the 25 photo voltaic farms, set to start business operation between 2024 and 2029, stands at 63 billion baht (US$ 1.7 billion). The infrastructure incorporates 13 ground-mounted photo voltaic farms with a complete contracted capability of 653MW and 12 photo voltaic farms with battery vitality storage techniques, contributing a further 700MW.
These tasks are a part of the 5.2-gigawatt renewables scheme supervised by the Power Regulatory Fee, with Gulf being one of many profitable bidders. The photo voltaic farms, together with these outfitted with vitality storage techniques, will obtain a feed-in tariff of two.16 baht (US$ 0.06) and a couple of.83 baht (US$ 0.08) per unit, respectively, reported Bangkok Post.
“In step with Thailand’s technique to advertise the usage of clear vitality, Gulf intends to make sure that no less than 40% of our portfolio is comprised of renewable vitality by 2035,” Yupapin acknowledged. To attain this objective, the corporate plans to extend its investments in renewable vitality sources, together with photo voltaic, wind, and hydroelectric energy.