Thailand's power system runs ~55GW installed capacity in 2024 with ~30% renewable share — and the PDP 2024 national plan targets 51% renewable by 2037. GULF (SET: GULF, largest listed IPP at ~THB 110B FY2024) anchors a listed stack alongside GPSC (PTT Group), BGRIM (industrial-estate SPP specialist), RATCH (ex-EGAT), and pure-play renewable names EA, BCPG, CKP. The 2023 Utility Green Tariff and December 2024 Direct PPA pilot enable corporate RE100 offtake; Thailand-Laos hydro imports add capacity but carry Mekong ESG controversy. Carbon neutrality 2050, net-zero 2065.

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Atlas actors in this figure's reports

Profiles covered in the report that cite this number.

B.Grimm Power

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

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.

Global Power Synergy

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

Gulf Energy Development

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

Ratch Group

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

Bangchak Corporation

Main independent Thai refiner; post-Esso ~294K bpd, 1,800 retail stations; biofuels, BCPG solar; FY2024 revenue ~THB 330B.

Time scope	2022-2024
Sources	Energy Regulatory Commission
Basis	Primary source
Confidence	Primary source

SPP auction allocations 2022-2024

Figure in context

Related figures

Thailand installed power capacity

PDP 2024 renewable target (2037)

Gulf Energy FY2024 revenue

Carbon neutrality target

B.Grimm Power installed capacity

UGT corporate-PPA launch

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Atlas actors in this figure's reports