Fluence Energy, Inc., a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, and the Electricity Generating Authority of Thailand (EGAT), announced a memorandum of understanding to develop the battery-based energy storage market in Thailand. Fluence and EGAT aim to increase the deployment of energy storage to support the increased integration of renewables into the power grid and achieve Thailand’s clean energy targets.
“Thailand is an important market in Southeast Asia. We are excited to collaborate with EGAT and leverage our global experience delivering complex solutions for energy storage,” said Fluence Senior Vice President and President, APAC Jan Teichmann. “This engagement is a testament to the strong relationship between our organizations and provides a platform to identify energy storage opportunities in Thailand to help accelerate the country’s energy transition.”
According to International Renewable Energy Agency (IREA), at current usage levels, Thailand’s existing oil and gas resources will deplete within the next decade. Facing rising energy demand coupled with increasing reliance on imported sources of energy, Thailand’s government raised the country’s non-hydro renewable target from 20 to 30 percent by 2036. With this rapid projected penetration of renewable energy into the energy mix, energy storage can play a key role in stabilizing and strengthening the future grid. For example, storage can provide greater flexibility in the management of generation resources and optimize electricity costs.
“EGAT plans to collaborate with Fluence on developing Thailand’s energy storage services,” said Dr. Narin Phoawanich, Assistant Governor-Fuel Management at EGAT. “Storage is critical for allowing increased renewable energy integration while maintaining power grid stability and flexibility. We are moving in the right direction towards achieving our clean energy target.”
