Thailand’s Climate Bill And PDP Targets Accelerate The Urgent Need For Cleaner Energy Adoption Nationwide – Chayasak Ittisiri, Managing Director, SP Group

• What are SP Group’s key strategies and investment plans for Thailand’s solar PV market?

SP Group (SP) is committed to supporting the clean energy transition for Thailand’s Commercial and Industrial (C&I) sector through sustainable energy solutions such as solar photovoltaics (PV), energy storage systems, Cooling-as-a-Service, and digital energy management solutions.

We focus on establishing partnerships with well-known local brands, like Food and Beverage (F&B) giants Betagro and Malee, to deploy rooftop solar PV on their factories to generate clean energy to offset their carbon emissions.

SP has also worked with leading education institutes like Rangsit University to green its campus. At Rangsit University, we installed a 2-Megawatt Peak (MWp) of rooftop solar PV system across nine buildings on the campus, deployed a floating solar PV system on one of the university’s ponds, and installed a Battery Energy Storage System (BESS) that enables on-demand supply of solar energy. In fact, when the system is completed, RSU’s Facility and Environmental Management Office will be 100 per cent powered by solar energy and will be the first building in a Thailand university campus to aim for net-zero status.

Besides partnerships, we are also looking to invest in solar assets when the opportunity arises. We announced our first mergers and acquisitions (M&A) in the country in November 2024 with the acquisition of solar PV assets, including three ground-mounted utility-scale solar farms, under the Feed-in-Tariff scheme, from Solartron in the Angthong and Prachuab Kirikhan provinces.

• How do SP Group’s solar initiatives align with Thailand’s renewable energy targets under the PDP?

SP’s renewable energy expansion initiatives are aligned with helping Thailand achieve its target of increasing its renewable energy from 13% to 51% of its total energy mix by 2037, as part of the Power Development Plan (PDP).

Since 2022, we have deployed more than 200 MW of solar PV across some 30 customers’ premises, covering the whole of Thailand, from Lampang in the North to Songkla in the South. SP has a pipeline of over 300 MWp of solar PV projects in Thailand and continues to expand its portfolio through partnerships with leading organisations, including Betagro, Malee Group, Rangsit University, and a leading supermarket and retail chain.

• What challenges does SP Group see in Thailand’s solar PV adoption, and how is it addressing them?

With the ambitious targets laid out in the PDP and the upcoming climate change bill, which seeks to impose a tax on carbon emissions for businesses, there is greater urgency to transition to cleaner forms of energy. Solar PV is seen as one of the more cost-effective solutions and offers quicker returns, but high upfront costs and a lack of technical knowledge remain a barrier for adoption, especially for small and medium-sized enterprises.

Partnerships with sustainable energy solutions providers like SP Group can help these organisations take the crucial first step. SP offers flexible financing models such as a Solar Power Purchase Agreement with zero upfront cost, and provides the technical capabilities to support their solar PV adoption.

• Can you share insights on SP Group’s upcoming solar projects or partnerships in Thailand?

SP’s focus is to help Thailand’s C&I sector make the clean energy transition. We have been working with prominent local F&B brands, a large retail and supermarket chain, universities, and other Multinational Corporations to deploy solar PV on their facilities across the country.

SP is also in collaboration with the Provincial Energy Authority of Thailand to leverage our expertise in Cooling-as-a-Service and Energy-as-a-Service to help the Government and C&I customers improve energy efficiency in buildings.

These upcoming partnerships are part of our renewable energy expansion plans and aligned with helping Thailand meet its PDP targets.

Beyond solar projects, SP is partnering with Banpu NEXT on district cooling projects in Thailand. Our first district cooling project in Thailand, Government Complex Center Zone C, became operational in November 2024.

• Does SP Group plan to integrate battery energy storage (BESS) into its solar projects in Thailand?

We see battery energy storage systems (BESS) as an integral part of our offerings to customers in Thailand, as it helps to maximise the accessibility of solar energy onsite. Pairing solar PV deployment with BESS can help reduce fluctuation in renewable energy generation, help customers to save energy and cost by optimising charging and discharging during peak and non-peak periods. BESS can also serve as an alternate energy source in times of grid outage.

We deployed our first BESS at Rangsit University. Combined with a 2MWp of rooftop solar PV system across nine buildings on the campus, and a floating solar PV system on one of the university’s ponds, the system is expected to generate 2,749 megawatt-hours annually.

We are also in the process of deploying Thailand’s largest BESS for the C&I sector, with a total capacity of 47 MWh, along with 100 MWp of solar PV, for a major local supermarket brand. The project is expected to be completed by 2025.  

Along with Solar PV and digital energy management solutions, BESS allows organisations to maximise renewable energy generation and reap economic benefits, playing a critical role in Thailand’s clean energy future.

• How does SP Group stand out in Thailand’s solar PV market, and what role does digitalization play?

We have solutions that cater to our customers’ requirements – whether it is for one building, a few factories, or an industrial estate. These solutions can also be integrated into a holistic suite of offerings – from deploying solar PV with battery storage to generate and store clean energy and implementing sustainable cooling and heating solutions for greater energy- and cost-efficiency, enabled by our digital energy management system. Digitalization plays a key role in our service offerings to customers. Our digital energy management system is built and managed in-house. It offers smart monitoring and predictive maintenance to support operational needs, while maximising energy savings and enhancing occupant comfort for greater customer satisfaction. For example, we use data analytics to forecast the maintenance plan, improve system performance, and help customers better manage their energy consumption.