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Business trends

Thai renewables companies forced to seek opportunities abroad

Government control and rising competition mean less room for domestic growth

A solar power plant of Superblock, Southeast Asia's biggest producer of solar power, in Phetchaburi province, Thailand.   © Reuters

BANGKOK -- Thai renewable power companies operating solar and wind farms are shifting investment overseas, despite the government's target of making renewables contribute up to 25% of the country's total power mix by 2021. The state's control over the market has intensified competition, leaving less breathing room for private businesses to grow domestically.  

Impact Electrons Siam, a new-generation renewable power startup, has already moved to develop renewable projects in Japan and Laos.

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