BOI boosts clean energy investment in Thailand to over THB560 billion in 10 years

The shift in U.S. clean energy policy under President Donald Trump, including the withdrawal from the Paris Agreement, has impacted clean energy investment and policy implementation in the U.S., as well as global greenhouse gas reduction targets.

However, major economies such as the EU, UK, and China continue to prioritize clean energy. Trade barriers like the Carbon Border Adjustment Mechanism (CBAM) are being implemented and must be closely monitored by Thailand.

Meanwhile, U.S. tech giants such as Microsoft, Google, and Amazon remain committed to reducing greenhouse gas emissions due to the competitive global market. Analysts believe Trump's anti-clean-energy stance may not significantly affect global clean energy investment trends, as the world remains focused on combating climate change and its intensifying impacts.

Asia emerges as a clean energy investment hub

A Morgan Stanley report suggests that Trump’s clean energy stance may redirect over $500 billion in investment away from the U.S., particularly from sustainability-focused funds, toward Asia. The region is emerging as a clean energy leader, with countries like China, Japan, and South Korea rapidly developing renewable energy sources such as offshore wind.

According to the Global Wind Energy Council, offshore wind capacity in Asia-Pacific is expected to increase sixfold by 2030. Asia is also set to become the largest solar energy market, led by India, China, and Indonesia, to meet rising global electricity demands.

Green technology competition is intensifying, with China leading in EV battery production (60% market share) and rare earth mineral control (80%). This has prompted the U.S. and Europe to seek new allies in Southeast Asia—creating an opportunity for Thailand to become a key EV manufacturing base.

Thailand as the ASEAN clean energy hub

BOI Secretary-General Narit Therdsteerasukdi revealed that there are currently 28 electric vehicle production projects by 22 companies in Thailand, with a total investment of approximately 78 billion baht and a combined production capacity of over 880,000 units.

Thailand is committed to reducing greenhouse gas emissions, targeting carbon neutrality by 2050 and net zero emissions by 2065. Under its Power Development Plan (PDP 2024), the country aims to increase the share of clean energy to no less than 50% of total electricity generation to support its green industry transition.

Currently, clean energy accounts for 26% of Thailand’s power capacity. According to the 2023 SDG Index, Thailand ranks 43rd globally and 1st in ASEAN, with the highest progress in clean energy.

Clean energy readiness is a key strength in attracting foreign investment. The BOI supports this transition by promoting clean energy projects and creating a sustainable energy ecosystem, helping Thailand reduce energy crisis risks in the future.

Narit revealed that from 2015 to March 2025, over 2,900 clean energy projects have been submitted for investment promotion, totaling more than 560 billion baht, including:

• Waste-to-energy and cogeneration from waste: 80+ projects, 110 billion baht
• Renewable energy (solar, wind, biomass, biogas, etc.): 2,800+ projects, 320 billion baht
• Other energy sources: 30+ projects, 120 billion baht

Additionally, the BOI has promoted over 2,400 projects worth more than 220 billion baht to improve production efficiency and shift toward renewable energy, supporting a green supply chain from upstream to downstream. This effort enhances opportunities, reduces risks, and strengthens Thailand’s competitiveness in sustainable business.