Thailand Renewables Report Q1 2016
BMI View: Despite our grim outlook for Thailand's political and economic situation over the next fewyears, we believe that supportive energy policy and regulatory environment, combined with thegovernment's strong commitment to diversify the power mix, will continue to attract investment into thecountry's non-hydro renewables industry. Growth will be driven by particularly strong expansion in thesolar segment, with notable additions coming from biomass and wind.
Latest Updates and Structural Trends
This quarter we have maintained our forecasts for the strong expansion in Thailand's non-hydrorenewables industry. We expect total non-hydro renewables capacity growth to average 12.5% across ourforecast period, reaching a total of 9,584MW in 2024. In terms of generation, the industry will record aslightly slower average growth of 9.5% per annum, totalling 17.4TWh in 2024.
On account of ambitious renewable targets, supportive policy and regulatory environment, we believeThailand's renewables sector is becoming increasingly attractive. This is highlighted by growing investorinterest in the market - particularly from Chinese solar energy developers and manufacturers.
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