Insight

Reference

·

Supporting source

·Preview

T-VER plus I-REC stacking IRR uplift

~8-12%

As of2026 guidance effective·Sources2·Supporting

TGO January 2026 guidance allows T-VER carbon credit registration concurrent with I-REC renewable-energy certificate issuance for floating-solar projects, lifting effective project IRR by an estimated 8-12 percent at consensus carbon-price assumptions (USD 8-14 per tonne CO2 equivalent).

Compare plans →

Figure in context

TGO January 2026 guidance allows T-VER carbon credit registration concurrent with I-REC renewable-energy certificate issuance for floating-solar projects, lifting effective project IRR by an estimated 8-12 percent at consensus carbon-price assumptions (USD 8-14 per tonne CO2 equivalent).

TGO January 2026 guidance allows T-VER carbon credit registration concurrent with I-REC renewable-energy certificate issuance for floating-solar projects, lifting effective project IRR by an estimated 8-12 percent at consensus carbon-price assumptions (USD 8-14 per tonne CO2 equivalent).

Time scope

2026 guidance effective

Source basis

Supporting source

Interpretation notes

What this tells you

TGO January 2026 guidance allows T-VER carbon credit registration concurrent with I-REC renewable-energy certificate issuance for floating-solar projects, lifting effective project IRR by an estimated 8-12 percent at consensus carbon-price assumptions (USD 8-14 per tonne CO2 equivalent).

What not to do with it

Use the linked report for interpretation and keep basis differences explicit.

Related figures

Adjacent numbers that add context without drowning the value.

FY2024
~70 MW

Thailand floating-solar operating capacity (2024 baseline)

EGAT, IRENA Thailand country note

FY2027 modelled
~1,500-1,900 MW

Thailand floating-solar operating capacity (2027 base case)

EGAT phase 2 and 3 pipeline, BOI Section 8 promoted projects, operator filings

PDP2024 to 2037
5,200 MW

PDP2024 floating-solar target by 2037

EPPO PDP2024 issuance, EGAT Phase 2 and Phase 3 pipeline

FY2027 modelled
~50%

EGAT estimated share of 2027 Thai floating-solar operating capacity

EGAT, SET-listed operator filings

2026 build cohort
~18-26%

Hybrid hydro-solar LCOE compression versus standalone solar

EGAT, EPC tender summaries, IRENA Thailand country note

ERC Pricing Order 2026
THB 2.16-2.34 per kWh

ERC Hybrid Tariff Feed-in-Premium (blended)

Energy Regulatory Commission of Thailand

Report context

Thailand Floating Solar & Hybrid Hydro 2027 Market Intelligence

Thailand owns the largest floating-solar plus reservoir-hybrid pipeline in ASEAN. EGAT Sirindhorn (45 MW, October 2021) and Ubol Ratana (24 MW, Q1 2025) operate today; Sirikit Dam 340 MW commissions through late 2026 into early 2027, Vajiralongkorn 250 MW reaches commissioning H2 2027, with Bhumibol, Khun Dan Prakan Chon, Lam Ta Khong, Kaeng Krachan stacked for EGAT Phase 2 and Phase 3 totalling 1,440 MW under FID. PDP2024 (August 2024) sets a 5,200 MW floating-solar target by 2037. The 2027 catalyst stack is dense: ERC Hybrid Tariff Pricing Order finalised Q1 2026 at THB 2.16-2.34 per kWh blended, BOI Section 8 floating-solar extension (8-year tax holiday), T-VER plus I-REC carbon-credit stacking lifting IRR 8-12 percent, Ciel & Terre Hydrelio plus Sungrow inverter local assembly, Mekong River Commission cross-border power intertie framework opening Lao PDR export. Base case: 2027 Thai floating-solar operating capacity reaches 1,500-1,900 MW (versus roughly 70 MW in 2024), with EGAT taking 50 percent share and Gulf, Banpu, B.Grimm, EA, PTTOR plus the mid-tier IPP long tail sharing the remainder.

Open report →

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.

Banpu Public Company Limited

SET-listed energy group transitioning from coal toward gas, power, and energy technology.

EGAT (Electricity Generating Authority of Thailand)

Thailand's state-owned electricity generator, transmission operator, single-buyer PPA counterparty; ~15-20 GW own capacity.

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.

T-VER plus I-REC stacking IRR uplift · Insight