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Source: Thailand Startup News  Aug 01, 2019

Energy Ministry To Allocate Budget Of Baht 3 billion To Support Energy Related Startups

Energy Ministry To Allocate Budget Of Baht 3 billion To Support Energy Related Startups
Source: Thailand Startup News  Aug 01, 2019
The Energy Ministry is planning to set aside Bt 3 billion baht from out of the total budget that it is seeking for the coming financial year to help promote energy related startups in Thailand.


Energy Minister Sontirat Sontijirawong
 
It will revise the current Power Development Plan for 2018-2037 with the aim of boosting start-up businesses. According to Energy Minister Sontirat Sontijirawong, these revisions are accordingly being made to correlate with future energy trends and also conservation targets while also proving opportunities for energy related startups to assist in this objectives.
 
The ministry is also open to new suggestions and opinions and said that major energy projects like the construction of the new power plant in the West of Thailand will not be affected by any of these new revisions as these are all already finalized deals and contracts.
 
The Energy Ministry has assured that the revision would offer investment opportunities for the private sector and also the provincial communities  with the establishment of a community power plant. Communities will be able to buy back shares from the investment, which will focus on renewable power plants. Related state agencies have already been instructed to map out zones for the establishment of community power plants and keep them within reach of the main transmission network.
 
The Energy Conservation Fund, which will be financing this move, has also been asked to revise its criteria for seeking funding to support the promotion of this community power plant development and come up with a proposal or alternative ideas for the Ministry’s consideration next week. The Energy Conservation Fund has an allocated budget of Bt12 billion.
 
The Energy Ministry indicated that the PDP revision must also be in line with Thailand’s policy of becoming Asean’s main power hub. If all targets  are achieved, the price of electricity in Thailand will drop to less than Bt3.576 per unit, a target that is achievable and maintainable the next 20 years as laid down in the current PDP.
 
 

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