Clean energy development will be a key factor driving the economy amid a slow global recovery and climate change, says Energy Absolute Plc (EA), a renewable energy developer and pioneer in electric vehicle (EV) development.
Sharing views on how to grow the economy during the "2022 Next Economic Chapter" seminar held yesterday, Sompote Ahunai, chief executive of EA, stressed a shift towards more environmentally friendly fuel is needed.
"The world is promoting clean energy and many countries, including Thailand, are following this global trend," he said.
Last November, Prime Minister Prayut Chan-o-cha pledged during the UN conference on climate change that Thailand would achieve carbon neutrality -- a balance between carbon dioxide emissions and absorption -- by 2050, and a net-zero balance between greenhouse gas emissions and absorption by 2065.
The move will create new opportunities for businesses, especially those related to energy development and EVs.
EA is among the companies bringing their businesses in line with the state campaign to achieve environmental goals.
In 2009, it opened a biodiesel plant with a production capacity of 800,000 litres a day in Prachin Buri's Kabin Buri district.
The company aims to make biodiesel an alternative fuel for Thai motorists.
Biodiesel, a mix of diesel and palm oil-derived methyl ester, not only helps support the state plan to reduce dependence on oil, but this "green oil" is also good for palm growers, Mr Sompote said.
Using palm oil as a raw material for biodesel production helps support palm oil prices and adds value to the farmers' product, he said.
EA is currently operating EV-related businesses, including bus assembly and battery production.
The company said earlier it received orders to assemble 500 electric buses and delivered 100 of them to buyers last year.
At present, it focuses on sales of commercial EVs, especially those in mass transit.
In the battery segment, EA operates a lithium-ion battery manufacturing plant, with production capacity of 1 gigawatt-hour a year, in Chachoengsao. The plant was officially opened in December last year.
