The development of wind and solar based energy is expected to contribute about a quarter of the total energy demand in Thailand by 2021.
Together, the department and IFC will design business models that will reduce market barriers and support the development of clean energy after reviewing the country’s legal and regulatory framework.
Department of Alternative Energy Development and Efficiency director-general Krairit Nilkuha said that during the past two decades, Thailand’s energy consumption has increased at a rate of 4.4% a year.
"We are determined to improve energy efficiency and develop renewable energy to mitigate any climate change effects," he added.
IFC East Asia and the Pacific sustainable business advisory manager Ian Crosby said, "IFC’s cooperation with the Thai government will help push for greater use of renewable and alternative energy, and increase private sector participation."
The department has received $680,000 from the IFC-Canada Climate Change Program and $500,000 from the Clean Technology Fund to develop sustainable clean energy projects.
