Member of World Bank Group IFC has extended its support Thailand’s Department of Alternative Energy Development and Efficiency (DAEDE), part of the country’s Ministry of Energy, to develop clean energy.
The country is hopeful of generating, at least a quarter of its energy requirements from wind and solar based sources by 2021.
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DAEDE will work together with IFC to undertake a review of the country’s legal and regulatory framework leading to the design of new business models to will reduce market barriers and support the development of clean energy.
Department of Alternative Energy Development and Efficiency director-general Krairit Nilkuha pointed that in the past two decades the nation’s energy consumption had at the rate of 4.4% per annum.
"We are determined to improve energy efficiency and develop renewable energy to mitigate any climate change effects," Nilkuha said.
IFC East Asia and the Pacific sustainable business advisory manager Ian Crosby added, "IFC’s cooperation with the Thai government will help push for greater use of renewable and alternative energy, and increase private sector participation."
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By GlobalDataThe department has received $680,000 from the IFC-Canada Climate Change Program and $500,000 from the Clean Technology Fund to develop sustainable clean energy projects.
