Hydrocarbons and Renewables Power the Energy Transition in Thailand
With energy consumption expanding 6.2 percent for the past 25 years, and one of the fastest growing economies in the world, Thailand is setting ambitious energy goals and guidelines that will ensure an impressive growth path for the future.
The country is one of the 10 largest petrochemical sites in the world, and has a growing pipeline distribution system used by companies like Dow Chemical and Exxon Mobil. Ranked 9th in the world for ease of utility set up, companies looking to invest in Thailand can depend on a grid with reliable access to power.
Always looking forward, the Thai government recently instated the ambitious plan to increase the share of energy from renewable sources to 20 percent by 2022. This policy will create 40,000 new jobs within the renewable energy industry and capitalize on the country’s established strengths in industries such as wind turbine production.
Incentives for Alternative Energy
The BOI offers an extensive package of tax and non-tax incentives for companies contributing to the renewables sector. Companies will receive 8 years of corporate income tax exemption for investments in energy efficient technology such as:
- Solar cell manufacturing
- Electricity or steam power generation through the use of alternative energy sources
- Development of mass transit systems
- Energy saving machinery or renewable energy equipment and machinery manufacturing
- Fuel from agriculture and waste (ethanol, bio-diesel, biogas, synthesis oil)
- Energy service consulting
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