Bangkok, Thailand, September 20, 2012—
IFC, a member of the World Bank Group, is supporting Thailand’s Department of Alternative Energy Development and Efficiency to develop clean energy, which the government hopes will contribute about a quarter of the country’s total energy demand by 2021.
IFC will work with the department, which is part of Thailand’s Ministry of Energy, to review the country’s legal and regulatory framework and design business models that will reduce market barriers and support the development of clean energy, with a focus on wind and solar power.
“During the past two decades, energy consumption in Thailand has continuously increased at an average yearly rate of 4.4 percent. We are determined to improve energy efficiency and develop renewable energy to mitigate any climate change effects,” said Krairit Nilkuha, the department’s director-general. “Our collaboration with IFC in clean energy promotion will significantly support us in addressing major energy issues.”
IFC will assist the department in seeking input from other government agencies and related stakeholders on how to refine Thailand’s renewable energy policies and regulations.
“Although Thailand has enacted renewable-energy legislation, investors are still facing barriers when they invest in renewable-energy projects,” said Ian Crosby, IFC’s sustainable business advisory manager for East Asia and the Pacific. “IFC’s cooperation with the Thai government will help push for greater use of renewable and alternative energy, and increase private sector participation.”
Thailand currently relies on expensive imports to supply more than 60 percent of its primary commercial energy needs. As one of the world’s 25 top emitters, Thailand hopes to reduce greenhouse gas emissions by substituting traditional energy with renewable energy.
The IFC-Canada Climate Change Program and the Clean Technology Fund provided $680,000 and $500,000 financing, respectively, to help IFC support the Department of Alternative Energy Development and Efficiency in developing sustainable clean energy projects.
“The global challenge of climate change requires a global solution, and Canada is proud to support environmental efforts such as these,” said Peter Kent, Canada’s environment minister.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
.
About the IFC-Canada Climate Change Program
The IFC-Canada Climate Change Program promotes private sector financing for clean energy projects. Canada’s financing to IFC for this program is part of its overall fast-start financing contribution for 2010–2011. Under the Copenhagen Accord, developed countries committed to provide fast-start financing of almost $30 billion for 2010–2012 to support climate-change mitigation and adaptation in developing countries. As part of Canada’s commitment to support climate change action in developing countries, Canada is contributing $1.2 billion Canadian dollars in new and additional climate-change financing over three years (fiscals 2010–2013).
About the Clean Technology Fund
One of the Climate Investment Funds, the Clean Technology Fund provides developing countries with positive incentives to scale up the demonstration, deployment, and transfer of technologies with a high potential for long-term greenhouse-gas emissions savings.
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