Renewable Energy Sector in Thailand: 2023 Recap & 2024 Outlook

Renewable Energy Certificates RECs

Recap 2023 renewable energy trends

19% and 26%

of RE100 members have a deadline to achieve 100% renewable energy by 2025 and 2030, respectively.

75%

of our clients have solar panels and want to fulfill their renewable energy targets with RECs.

The top three industries interacting with RECs are automotive, food packaging, and data centers.

REC prices are increasing every month, suggesting that REC prices in Q4 will be higher than those in Q1 2024.

RECs

I-REC is an international standard for renewable energy. In Thailand, it was approved by EGAT.

EKOenergy RECs

The EKOenergy label is recommended by the GHG Protocol and CDP standards to indicate that your energy is clean and sustainable. GMS Solar is the first authorized EKOenergy provider in Thailand.

REC Statistics in Thailand by EGAT

Solar Energy Technology

849.60 MW

Thailand Potential I-REC Production

2490.86 MW

Hydropower Energy Technology

791.98 MW

In 2023, there is an increase in demand for Renewable Energy Certificates (RECs) compared to the demand observed in 2022, indicating a growing interest and commitment to renewable energy sources.

Biomass Energy Technology

451.90 MW

Wind Energy Technology

374.62 MW

Other

22.76 MW

Preparation for 2024 Renewable Energy Goals

In 2023, there was a noticeable spike in REC demand,
mainly in Q3 and Q4. Organizations strategically choose
to submit sustainability reports in Q1, aligning with a
market trend of rising REC prices that peak towards
year-end. This reflects a proactive approach by entities,
leveraging higher REC values during Q1 disclosures.

We recommend that you prepare to purchase
Renewable Energy Certificates (RECs) in the first
quarter of the year to ensure the securement of
your REC portfolio.

Meeting with REC Thailand

To begin your company’s vision in transforming to Renewable Energy & procuring Renewable Energy Certificates (RECs), REC Thailand is a reliable partner for you.

20 years in The Thai Energy Market Your solution provider for oil & gas and green energy equipment since 2002

GMS Interneer GMS Solar REC Thailand

GMS Interneer

Oil & gas equipment trading since 2002 www.gmsinterneer.com

GMS Interneer GMS Solar REC Thailand BESS REPT

GMS Solar

Solar equipment trading for commercial users www.gmssolar.com

REC Thailand

REC Thailand

Thai Renewable Energy Certificate trader and broker www.recthailand.com

Closing remarks

Happy New Year 2024

Thank you for taking the time to read our email. We appreciate your attention, and we look forward to hearing back from you. In the coming year, we are dedicated to taking care of you and providing assistance in your journey towards meeting your Renewable Energy Goals. We look forward to supporting your company and contributing to your success. If you have any questions or require any further information, please feel free to contact us.

GMS Interneer

www.gmsinterneer.comOil&gas equipment trading since 2002
Established in 2002, we are proud to be able to introduce the world-class oil&gas equipments to Thai Exploration and Production Industry. As an integral part of the supply chain, the industry supplies gas to fuel 70% of Thai electricity generation, enhancing Thailand growth.

GMS Solar

www.gmssolar.com – Solar equipment trading for commercial users
GMS Solar was established to accelerate Thai corporate’s goal of Carbon Neutrality and the road to NetZero. With more than 20 years of experience in the Thai energy sector. We are now ready to be a part of Greater Mekong Subregion’s green energy transition.

REC Thailand

www.recthailand.comThai Renewable energy certificate trader and broker
REC Thailand, a service under GMS Solar specialises in Thai REC trading of all technologies.

28th FLOOR, No.123 Suntowers Building B, Vibhavadi-Rangsit Road, Chompol, Chatuchak, Bangkok 10900 Thailand
TEL: 662 278 1100  E-mail: somkiat@gmsthailand.com

PRIVACY NOTICE  l  DATA SUBJECT REQUEST FROM 

บริษัท จี เอ็ม เอส โซลาร์ จำกัด (GMS SOLAR), @2023 – All Right Reserved.

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