Thailand’s natural gas depletion problems are causing the southeast Asian country to make significant changes to its energy mix. The capacity of non-hydro renewables in Thailand may expand to 21 percent of the country s total power capacity mix at 14,858 MW by 2028, according to a recent report by Fitch Solutions. The report projected that capacity growth in the renewables sector to be robust over the next decade, mostly driven by the biomass and solar sectors as the country mitigates the loss of its natural gas reserves. “This view is also informed by our expectation that coal-fired power growth will stagnate amidst popular opposition, meaning that there are ample opportunities for renewables as the Thai government seeks to deliver increased power sector investment to meet rising electricity demand in the country,” Fitch Solutions added. The Fitch report also highlighted how local authorities are aiming to raise the share […]