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The government should focus more on investments in green projects, especially those that will bring benefits from carbon trading, suggests Staporn Kavitanon, chairman of the economic advisory team to Prime Minister Abhisit Vejjajiva.
He said many developed countries now needed to buy credits from developing countries such as Thailand in order to meet their emissions-reduction targets.
Thailand has been slow to invest in biogas projects and the government should consider more incentives, said the former Board of Investment chief.
The cabinet has approved an investment framework for state agencies with a combined budget of US$4.26 billion. The Finance Ministry will propose the plan for approval from the World Bank’s Clean Technology Fund (CTF).
Once the fund is approved, Thai government agencies could borrow soft loans for their projects, pending further cabinet and parliamentary approval.
Ampon Kittiampon, the secretary-general of the National Economic and Social Development Board, said the state planning agency had initially screened projects that conformed with fund requirements and the 10th and 11th national social and economic plans.
The investment projects are classified into two groups – clean energy advancement and urban transport.
The energy sector will account for three projects worth $1.68 billion. The Bank for Agriculture and Agricultural Co-operatives and the Export and Import Bank will promote community and private-sector alternative energy ventures to generate 374 megawatts with $800 million in investment.
The Electricity Generating Authority of Thailand will generate 224 MW from wind, solar and small hydropower plants with a total investment $579 million. The Provincial Electricity Authority (PEA) will develop 100 generators fuelled with wood scrap with a capacity of one megawatt each and a $230-million investment. Another $67-million PEA project will improve the efficiency of street lighting.
The urban transport projects will cost $1.27 billion, with the BMA spending $1.22 billion for bus rapid transit. It will also increase the efficiency of electricity consumption in its buildings at a cost of $48.7 million.
Banks will be asked to lend to private-sector energy efficiency programmes with a total investment of $1.32 billion.
Mr Ampon said the CTF would support only 10-15% of the total investment, but project owners could borrow from the World Bank or the Asian Development Bank. The Finance Ministry will guarantee the loans while commercial banks can directly contact the CTF and International Finance Corporation for soft loans to lend to private companies.
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PM’s adviser says carbon trade needs more attention: | Sourced From Bangkokpost.com |
The government should focus…
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PM’s adviser says carbon trade needs more attention: | Sourced From Bangkokpost.com |
The government … #green #eco
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