A tuk tuk ride through Bangkok’s busy sois (streets) is one of the big attractions for the 32 million tourists who flock to Thailand’s capital every year and it’s a must do for my family when we visit.
While the iconic three-wheeled taxi is set to remain on Bangkok’s streets for many years, the tuk tuk of the future is likely to be quieter and cleaner with Thailand preparing to embrace the electric cars. To take full advantage of this revolution, a local company is currently developing a solar-powered tuk tuk.
The planned modernization of Bangkok’s tuk tuks has parallels with Thailand’s broader energy sector. Over the next 20 years, the country plans to nearly double its power generation capacity to 70 GW (from 37 GW today) and to increase the amount of renewable power in the energy mix to 35-40% by 2036 (from 8-10% today).
While the ambition is clear, Thai energy officials and sector players are presently working out the best way to achieve these goals. The country’s energy challenges and opportunities were discussed at the GE-organized Powering Thailand conference . It was a very timely event because Thailand is at a “crossroads” in its near-term energy planning. It is a mature, developed ASEAN power market, investing in renewable energy while adopting advanced gas and coal technologies.
Formulating the right plan is challenging because new technologies are rapidly coming onstream, and there are energy affordability, reliability, and sustainability priorities to balance. In addition, digitization of the energy sector is another important focus area under the nation’s 4.0 IoT plan.
These challenges were addressed by all the speakers including Thailand’s Vice Minister of Energy and the Chairman of the Energy Regulatory Commission. With more than 350 customers and industry stakeholders contributing to the discussion, here are my key takeaways from the event:
- Energy security can only be achieved through a mix of fuels.
- Implementing best available technologies and quality is of paramount importance to ensure sustainability.
- Life cycle cost evaluation must be the key for every decision, it’s not only about CAPEX.
- Digital is transforming the energy sector and brings tremendous improvements in efficiency.
This piece first appeared in LinkedIn.
Wouter Van Wersch is President and CEO of GE APAC
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