Insight

Renewable Energy

Thailand's PDP 2024 targets 51% renewable installed capacity by 2037 (from ~30% today). Listed IPPs (GULF, GPSC, BGRIM, RATCH, EA, BCPG, CKP) dominate the investable stack; UGT, Direct PPA pilot enable corporate RE100 offtake; carbon neutrality by 2050.

Last updated: April 2026

Reports in this sector

4

Market profiles

8

Cited sources

63

Primary-grade share

81%

Key statistics

Public reference figures, each linked to source-level context.

FY2024
~55GW

Thailand installed power capacity

EPPO, IRENA

2037 target
51%

PDP 2024 renewable target (2037)

EPPO PDP 2024

2022-2024
~5GW

SPP auction allocations 2022-2024

Energy Regulatory Commission

FY2024
~THB 110B

Gulf Energy FY2024 revenue

Gulf Energy FY2024 Form 56-1

COP26 commitment
2050

Carbon neutrality target

Ministry of Natural Resources and Environment

FY2024
>4GW

B.Grimm Power installed capacity

B.Grimm Power FY2024 Form 56-1

July 2023
July 2023

UGT corporate-PPA launch

ERC, MEA, PEA

Market profiles in this sector

8 free profiles tied to reports, filings, regulations, and source-backed context.

Browse Market Atlas →
Company/operator
SET:BCPG

BCPG Public Company Limited

Bangchak-linked listed renewable power developer and operator.

3 reports
Company/operator
SET:BGRIM

B.Grimm renewable-power platform

SET-listed Thai SPP / IPP; SET:BGRIM; gas-fired cogeneration, renewable portfolio; B.Grimm family-controlled.

2 reports
Company/operator
SET:BGRIM

B.Grimm Power

Industrial-estate SPP cogen specialist — 4GW+ across ASEAN; FY2024 revenue ~THB 60B.

8 reports
Company/operator
SET:EA

Energy Absolute

Pure-play Thai renewable, EV-value-chain — solar, wind, biodiesel, EV buses, charging, battery. FY2024 THB 25-30B with 2023-2024 governance turbulence.

18 reports
Company/operator
SET:GPSC

Global Power Synergy

PTT Group listed power arm — 7GW+ across Thailand, Taiwan, India, Laos; FY2024 revenue ~THB 80B.

22 reports
Company/operator
SET:GULF

Gulf Energy Development

Thailand's largest listed IPP — THB 110B+ FY2024; gas, renewables, data centres, AIS/Intouch via SingTel JV.

21 reports
Company/operator
SET:GUNKUL

Gunkul Engineering (SET:GUNKUL)

SET-listed Thai renewable-energy IPP; SET:GUNKUL; solar, wind, biomass portfolio across Thailand and Vietnam.

2 reports
Company/operator
SET:RATCH

Ratch Group

Ex-EGAT listed IPP — FY2024 ~THB 42B; legacy thermal, Australia, Indonesia, Vietnam with renewables pivot underway.

8 reports

Available reports

Thailand Renewable Energy Market Intelligence

Thailand's PDP 2024 targets 51% renewable installed capacity by 2037, up from ~30% today. Listed IPPs dominate: GULF (largest, ~THB 110B FY2024), GPSC, BGRIM, RATCH, EA, plus BCPG and CKP. UGT, Direct PPA pilot enable corporate RE100 offtake. Carbon neutrality 2050.

Thailand Renewable PPA Economics Deep Dive

Thai renewable PPA economics. FiT/ADDER legacy → competitive auction, direct-PPA, wheeling, REC. Gulf, GPSC, EA, BCPG, Super, BGRIM, Ratch, EGCO. PDP 2024 target ~50% RE by 2037.

Thailand Solar Rooftop Economics Deep Dive

Thai solar rooftop ~1-2 GW cumulative. Industrial 52%, commercial 28%, residential 15%, public 5%. Net metering, bilateral, direct-PPA. Residential payback 6-9 yrs; commercial 4-6 yrs.

Thai Renewable Energy: BCPG, GPSC, EA Energy Absolute, and the PDP 2037 50% Renewable Target

Thai renewable energy ~USD 5-8B annual investment 2024-2027 driven by PDP 2025-2037 50% renewable target. Tier-1: BCPG (Bangchak-affiliated SET-listed), Global Power Synergy (GPSC PTT-affiliated SET-listed), Energy Absolute (EA SET-listed Sompote-Ahunai-controlled), Gunkul Engineering (GUNKUL), Banpu Power (BANPU). Watchpoints: solar, wind buildout pace, grid-modernisation, battery-storage cost.

What this report covers

Capacity, fuel mix

EPPO ~55GW installed 2024; PDP 2024 targets 51% RE by 2037; gas ~52% / coal ~18% / solar ~11% / Laos hydro ~7% / biomass+biogas ~6% / other RE ~6%.

Operators

Gulf Energy (SET: GULF, ~THB 110B FY2024), GPSC (PTT Group, ~THB 80B), BGRIM (SPP cogen, ~THB 60B), RATCH (ex-EGAT, ~THB 42B), EA (pure-play RE, EV), BCPG, CKP, plus state EGAT.

Regulation, demand

Energy Industry Act B.E. 2550, PDP 2024, AEDP 2024, UGT (2023), Direct PPA pilot (Dec 2024), BOI RE, Carbon Neutrality 2050, Net-Zero 2065, Smart Grid Master Plan.

Full sector report

Thailand Renewable Energy Market Intelligence

31 min read · 2026 Edition

Preview report·$99
Renewable Energy · Insight