Thailand Biomass & Biogas Power VSPP Deep Dive
Thai biomass, biogas ~3.5-4.0 GW. Bagasse, rice husk, palm, cassava, MSW, farm slurry. Listed: ACE Energy, TPCH, Earth Tech, AGE, Mitr Phol, UBE.
Key takeaways
- 1
Thai biomass, biogas power ~3.5-4.0 GW installed FY2024 across VSPP, SPP cogen tiers.
- 2
Feedstock mix: bagasse ~, rice husk, straw ~, palm fibre, EFB, POME ~, wood, eucalyptus ~, cassava, tapioca ~, MSW, RDF ~, farm slurry ~.
- 3
Listed operators: Absolute Clean Energy (SET: ACE), TPC Power Holding (SET: TPCH), Earth Tech, AGE, LANNA, EE Group, Demco.
- 4
Sugar-mill bagasse cogen anchors ~ β Mitr Phol, Khon Kaen Sugar, KSL, Buriram, Thai Roong Ruang.
- 5
PPA: VSPP β€10 MW, SPP cogen 10-90 MW, Adder/FiT/Feed-in-Premium tariff transition. Carbon credit, RE100, Direct PPA emerging premium.
Executive summary
Thai biomass, biogas power generation reaches ~3.5-4.0 GW installed capacity FY2024 across VSPP (Very Small Power Producer β€10 MW), SPP (Small Power Producer 10-90 MW cogen) tiers. Feedstock mix: bagasse (sugar-mill by-product) ~ β Mitr Phol, Khon Kaen Sugar, KSL, Buriram Sugar, Thai Roong Ruang sugar-mill cogen anchors largest biomass capacity; rice husk, straw, agricultural residue ~; palm fibre, EFB (empty fruit bunch), POME (palm-oil-mill effluent) biogas ~ concentrated in Southern Thailand palm-oil mills (Univanich, Sime Darby, Patum Vegetable Oil, smaller); wood chip, plantation eucalyptus ~; cassava, tapioca pulp, starch wastewater biogas ~ (Ubon Bio Ethanol UBE, cassava-mill cluster); MSW, RDF, waste-to-energy ~; pig, chicken farm slurry biogas ~.[, , , ]
Listed operators: Absolute Clean Energy (SET: ACE) β Thailand's largest dedicated biomass IPP/SPP/VSPP integrated operator with multi-fuel, multi-region portfolio; TPC Power Holding (SET: TPCH) β listed biomass, biogas VSPP focused operator; Earth Tech, AGE, LANNA, EE Group, Demco, Mega Chemical, ICC, Green Earth Power Thailand, Biomass One, LH Bank, selective mid-tier listed, private operators. Sugar-mill operators (Mitr Phol private, Khon Kaen Sugar SET: KSL, Buriram Sugar SET: BSL, Thai Roong Ruang Sugar SET: TRR, Kaset Thai International Sugar) co-locate bagasse cogen, sugar production, ethanol distillation; cogen anchors ~ of biomass capacity. Cassava, ethanol biogas: Ubon Bio Ethanol (SET: UBE) integrates cassava-tapioca starch, ethanol distillation, biogas from wastewater, biomass from cassava pulp. POME biogas Southern: Univanich Palm Oil, Sime Darby, Patum Vegetable Oil, smaller cluster.[, , , , , ]
PPA, Adder/FiT/Feed-in-Premium, reform: VSPP, SPP renewable PPA structure historically used Adder (premium-over-base-tariff) until ~2017; transition to FiT (Feed-in-Tariff fixed THB/kWh) ~2017-2020; transition to Feed-in-Premium, competitive auction ~2020-2024, Direct PPA framework, RE100 corporate procurement piloting, green-tariff. Carbon credit, T-VER, RE100, Direct PPA, green-tariff create premium revenue stream beyond standard PPA. ERC, EPPO, DEDE, AEDP (Alternative Energy Development Plan), PDP 2024 (Power Development Plan), carbon-neutral 2050 commitment drive renewable target. EU CBAM, corporate Scope 1-2-3 disclosure further drive Direct PPA, green-tariff demand. Feedstock supply: bagasse, rice husk, palm fibre seasonal, sugar-mill-anchored; cassava, agri-residue, MSW, RDF year-round but logistics, collection, quality-management economics tight.[, , , , ]
Thai biomass, biogas feedstock mix (% of FY2024 installed capacity)
Bagasse (sugar mill by-product)
Rice husk, straw, agri-residue
Share %
Anchor, region
Rice mill, Northeast, Central
Palm fibre, EFB, POME biogas
Share %
Anchor, region
Univanich, palm mill cluster Southern Thailand
Wood chip, plantation eucalyptus
Share %
Anchor, region
Plantation, sawmill residue
Cassava, tapioca pulp, wastewater biogas
Share %
8%
Anchor, region
UBE, cassava mill, Northeast, East
MSW, RDF, waste-to-energy
Share %
6%
Anchor, region
Bangkok, provincial municipal waste-to-energy
Pig, chicken farm slurry biogas
Share %
4%
Anchor, region
Pig, chicken farm cluster
| Feedstock | Share % | Anchor, region |
|---|---|---|
| Bagasse (sugar mill by-product) | 38% | Sugar-mill cogen β Mitr Phol, KSL, Buriram, TRR; Northeast, Central |
| Rice husk, straw, agri-residue | 18% | Rice mill, Northeast, Central |
| Palm fibre, EFB, POME biogas | 16% | Univanich, palm mill cluster Southern Thailand |
| Wood chip, plantation eucalyptus | 10% | Plantation, sawmill residue |
| Cassava, tapioca pulp, wastewater biogas | 8% | UBE, cassava mill, Northeast, East |
| MSW, RDF, waste-to-energy | 6% | Bangkok, provincial municipal waste-to-energy |
| Pig, chicken farm slurry biogas | 4% | Pig, chicken farm cluster |
Headline metrics
Capacity, tariff, target benchmarks
Installed biomass, biogas (FY2024)
~3.5-4.0 GW
EPPO/DEDE; across VSPP, SPP cogen tiers
VSPP FiT (biomass <3 MW)
$0.14/kWh
20-year contract since 2014; smaller scale premium
VSPP FiT (biomass β₯3 MW)
$0.124/kWh
Mid-tier scale tariff; PPA 20 years
Analyst framing
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