Electricity Generating Public Limited Company (EGCO), a Electricity Generating Authority of Thailand (EGAT) subsidiary, has announced a budget of THB30 billion to increase electricity generation capacity by 1,000 MW during 2022.
Out of the total budget, THB8 billion baht will be allocated for construction of power generation facilities and the remaining THB22 billion will be used to finance merger and acquisition plans. During 2022, most of the financing will be allocated to develop fossil fuel-fired power plants and renewable energy facilities. Currently, EGCO has a total generation capacity of 5,959MW. Renewable energy sources, including solar, wind, hydro power, biomass and geothermal energy, account for 1,364MW of total capacity. The agency is also preparing to deploy new technologies by researching the feasibility of hydrogen-to-power technology in solid oxide fuel cells and solid oxide electrolyser cells.