Mitihoon – GPSC is advancing its proactive strategy to optimize its innovative energy portfolio, strengthening both conventional and clean energy capabilities to capture new electricity demand under Thailand’s Power Development Plan 2026 (PDP 2026). The Company is increasing its focus on clean energy to support the growth of data centers in Thailand and contribute to the country’s Net Zero ambitions. Electricity demand in Thailand is projected to double to approximately 77,000 MW by 2050. GPSC has also highlighted its readiness to collaborate with technology partners and leverage its strong financial position to participate in the development of Small Modular Reactor (SMR) projects with a total planned capacity of 2,400 MW over the next 7–10 years, in line with the national power development roadmap.
Mr. Sirimet Leepagorn, President and Acting Chief Operating Officer of Global Power Synergy Public Company Limited (GPSC), the innovative power flagship of the PTT Group, revealed that the Ministry of Energy is expected to announce Thailand’s new Power Development Plan (PDP), covering the period 2026–2050, later this year. The plan will serve as a key framework for future power generation development to support economic growth and respond to changes in the global energy landscape. GPSC has assessed the anticipated direction of the new PDP and formulated strategic investment plans to guide its future growth. The Company aims to play a significant role in strengthening Thailand’s long-term energy security amid rising electricity demand and the ongoing energy transition. GPSC has set a target to increase the proportion of clean energy to as much as 70% of its total generation capacity, driven by the expansion of data centers, electric vehicles (EVs), the implementation of Direct Power Purchase Agreements (Direct PPAs), and continued investment promotion in the Eastern Economic Corridor (EEC).
Given the country’s energy development trajectory, Thailand’s electricity demand is expected to increase from approximately 30,000–33,000 MW at present to around 77,000 MW by 2050. Consequently, the new PDP must address three key objectives: ensuring power system reliability, maintaining affordable electricity prices, and promoting environmental sustainability. During the transition period, Thailand will continue to rely on natural gas-fired power plants to maintain system stability and support the intermittency of renewable energy sources, which cannot consistently meet electricity demand throughout the day. In addition, the new PDP is expected to incorporate Small Modular Reactor (SMR) technology as an important source of firm power generation to complement renewable energy sources with variable output. Under the previous PDP, SMR development was planned at approximately 600 MW and scheduled toward the end of the planning horizon. In the new PDP, however, the government is preparing to include 2,400 MW of SMR capacity as a baseload power source capable of supplying clean electricity while enhancing energy security. As a low-carbon generation technology that can operate continuously, SMRs are expected to reduce long-term fuel cost volatility while contributing to Thailand’s progress toward its Net Zero goals. Technology offers significant potential to enhance energy security, improve cost competitiveness, and accelerate the country’s energy transition.
Nevertheless, SMR technology remains in its early stages of deployment. Thailand still needs to prepare the necessary legal framework, regulatory oversight, skilled workforce, and public acceptance. The first SMR project in Thailand is expected to materialize after 2036, providing an appropriate timeframe for technology validation and ecosystem development. Although initial capital costs remain relatively high—estimated at approximately US$6–8 million per MW, or around US$700 million for a 100-MW project—development costs are expected to decline as the technology matures. During the initial phase, pilot projects are likely to be developed by the Electricity Generating Authority of Thailand (EGAT). GPSC has already begun studying SMR technologies and is collaborating with Seaborg Technologies of Denmark to explore next-generation molten salt reactor technology. This design utilizes molten salt coolant with a high boiling point, reducing pressure within the system. It also incorporates inherent safety features that enable the reactor to automatically shut down under abnormal conditions, minimizing dependence on external safety systems. The Company is also studying other SMR technology options to compare their suitability and identify the most appropriate solution.
In addition, GPSC has adjusted its portfolio management strategy to address geopolitical uncertainties affecting fuel costs, particularly liquefied natural gas (LNG). The Company is improving the efficiency of its existing power plants while increasing installed capacity in renewable energy, targeting renewable energy to account for 60–70% of its investment portfolio by 2030. Overseas projects, particularly in India, are expected to be key growth drivers. While SMRs are considered clean energy technology because they generate electricity without direct carbon dioxide emissions, they are not currently included in GPSC’s renewable energy target.
Domestically, the introduction of Third-Party Access to the transmission network is expected to become an important growth driver for the energy sector, particularly in serving data center customers that require reliable and clean electricity. Global technology companies continue to expand their investments in Thailand, creating increasing demand for high-quality power supply.
GPSC believes Thailand remains competitive in terms of electricity costs compared with other countries in the region. Furthermore, electricity pricing mechanisms for data centers linked to LNG costs would provide greater transparency for investors while avoiding additional burdens on other electricity consumers. The Company is well-positioned to capitalize on these opportunities through its existing power generation assets and strategically located land holdings, which can be rapidly developed into supporting infrastructure for data center projects.
GPSC is also evaluating options to optimize the value of its existing assets, including extending power purchase agreements, upgrading plant efficiency, and repurposing facilities approaching the end of their contract life to serve specific customer segments such as data centers. In addition, the Company is exploring opportunities to import hydropower from Laos to increase the share of stable, clean electricity with predictable pricing, while supporting Thailand’s ambition to become a regional clean energy hub.
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