Bangkok--24 Sep--Clean Energy Development
IFC, a member of the World Bank Group, is supporting Thailand’s Department of Alternative Energy Development and Efficiency to develop clean energy, which the government hopes will contribute about a quarter of the country’s total energy demand by 2021.
IFC will work with the department, part of Thailand’s Ministry of Energy, to review the country’s legal and regulatory framework and design business models that will reduce market barriers and support the development of clean energy with a focus on wind and solar power.
“During the past two decades, energy consumption in Thailand has continuously increased at an average yearly rate of 4.4 percent. We are determined to improve energy efficiency and develop renewable energy to mitigate any climate change effects,” said Krairit Nilkuha, the department’s director-general. “Our collaboration with IFC in clean energy promotion will significantly support us in addressing major energy issues.”
IFC will also assist the department in seeking input from other government agencies and related stakeholders on how to refine Thailand’s renewable energy policies and regulations.
“Although Thailand has enacted a renewable-energy legislation, investors are still facing barriers when they invest in renewable-energy projects,” said Ian Crosby, IFC’s sustainable business advisory manager for East Asia and the Pacific. “IFC’s cooperation with the Thai government will help push for greater use of renewable and other alternative energy, and increase private sector participation.”
Thailand relies on expensive imports to supply more than 60 percent of its primary commercial energy needs. As one of the world’s 25 top greenhouse-gas emitters, the government hopes to reduce emissions by substituting traditional energy with renewable energy.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.
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