Representatives from leading Japanese and Thai enterprises, including Toyota Motor [TM:US] and PTT [PTT:TB], discussed possible collaborations in decarbonization technologies such as hydrogen power and electric vehicles (EVs), as reported by Nikkei Asia on October 21. Around 15 companies participated in the inaugural Japan-Thailand Energy Policy Dialogue Business Forum, which aims to deal with energy-related challenges between the two countries. At the forum, Thai enterprises outlined their targets and challenges in reducing carbon emissions, while Japanese companies offered technologies that can advance Thailand’s energy transition. Other participants included Japan’s Mitsubishi Heavy Industries [7011:JP], Hitachi [6501:JP], and Toshiba [6502:JP], as well as Electricity Generating Authority of Thailand and Thai coal-mining firm Banpu [BANPU:TB].
The forum was held under an energy partnership memorandum inked between Japan’s Ministry of Economy, Trade, and Industry (METI) and Thailand’s Energy Ministry this January. According to the memorandum, the two parties will implement joint projects to advance decarbonization. Before the memorandum, the Japanese government proposed the Asia Energy Transition Initiative (AETI), under which it pledged a USD10bn financial support to Thailand and other Association of Southeast Asian Nations (ASEAN) to promote renewable energy, energy efficiency, liquefied natural gas, and other projects. The cooperation between Japan and Thailand is based on a mutual target, namely realizing carbon neutrality by 2050. As Thailand generates 60% to 65% of its electricity from natural gas, Japan could help raise the efficiency of fossil fuel power plants in Thailand to support a gradual energy transition through technical support.