Gulf Sriracha power plant in Chonburi, Thailand. (Photo: Gulf Energy Development)
Four renewable energy companies in Thailand have announced the formation of a strategic alliance to jointly invest in waste-to-energy projects. They plan to construct a total of 12 power plants with a combined installed capacity of 96 MW, as well as 3 solid recovered fuel facilities.
In this partnership, Gulf Energy Development, a relatively larger-scale company, has joined with another publicly listed company, Earth Tech Environment, to commit investing 15 billion THB (about 405 million USD) in building 10 waste-to-energy plants.
Additionally, the two companies have partnered with Wastech Exponential to construct 2 more power plants. Wastech Exponential is a subsidiary of the Thai steel giant Milcon Steel.
Each power plant has an installed capacity of 8 MW. All 12 plants are scheduled to operate in 2026. A 20-year power purchase agreement (PPA) has been signed with the Provincial Electricity Authority (PEA) of Thailand through feed-in tariff scheme last year.
In addition, Gulf Energy has partnered with a renewable energy company "Better World Green" to develop solid recovered fuels. The investment is estimated at 2.6 billion THB (about 70 million USD). They plan to build a total of 3 plants, with commercial operation expected as early as 2025.
In Thailand's Power Development Plan (PDP) 2018-2037 (Rev. 1), the government plans to increase the scale of waste-to-energy generation to 44 MW. Furthermore, under the Bio-Circular-Green Economy (BCG) model, the government aims to attract numerous renewable energy enterprises to join the initiative, aim to achieve the net-zero target by 2065.
