Thanks to growing local manufacturing capacity.
Select markets in the ASEAN region are becoming increasingly attractive for renewable energy investment, with Thailand, the Philippines and Indonesia set to dominate the sub-region's renewables capacity mix over the coming decade, according to BMI Research.
BMI views Thailand as the ASEAN renewables investment brightspot, and the country has emerged as the outperforming solar markets in the South East Asia region.
"We forecast solar capacity to total 2.7GW by 2026, driven by the country's regulatory environment for renewable energy (Thailand has a feed-in tariff programme and a procurement programme for solar developments) and the growing local manufacturing capacity in the country." BMI Research said.
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