Energy storage power stations already in operation in Thailand

The battery cabinet and PCS enclosure also adopt high protection level. Hence, the energy storage system can maintain efficient yield without derating in hot and wet environment in Thailand.

Thailand can manage its energy transition and solve the energy trilemma of sustainability, security and affordability by accelerating renewable power additions and grid capacity expansion, while limiting new thermal power capacity addition.

In April 2023, Thailand awarded project rights for 1GW of solar capacity paired with one-to-four-hour storage. However, only 0.3GW has been commissioned to date. While the draft PDP2024 has ambitious battery capacity targets, Thailand has not clarified the mechanism to support deployment of renewable-plus-storage.

As Thailand plans to add significant amount of renewables capacity in the next 13 years, the government would consider more flexible gas power contract. As a result, thermal power plants will likely see their operational hours cut further. This will lead to costlier coal and gas power.

According to BNEF analysis, the levelized cost of storage (LCOS) of Thailand's eight-hour pumped hydro projects ranges from $61-176/MWh, lower than the global average (Figure 13). 0 61 Source: BloombergNEF. Note: The average LCOS for pumped hydro storage for selected countries is $176 per MWh.

Thailand's power market is an enhanced single buyer system, whereby the state-owned Electricity Generating Authority of Thailand (EGAT) is the main electricity generator and transmission system operator. EGAT also acts as the offtaker from independent power producers (IPPs).