Egat's 2037 SMR target to reshape Thailand's energy mix
The Electricity Generating Authority of Thailand (Egat) aims to launch its first 300 MW small modular reactor by 2037, with a projected capital cost of 60-70 billion baht, to mitigate volatile liquefied natural gas prices.
Thailand Accelerates Nuclear Power Development
The Electricity Generating Authority of Thailand (Egat) has intensified its examination of nuclear energy adoption, establishing a goal to commission the nation's inaugural commercial small modular reactor (SMR) by 2037.
This initiative forms a central component of Thailand's 2026 Power Development Plan, designed to ensure a consistent and clean energy supply while reducing the country's exposure to the fluctuating costs of global liquefied natural gas (LNG).
Egat's efforts are geared towards securing long-term energy stability and diversifying its power generation sources, as articulated in its accelerated study.
Project Scope and Economic Considerations
Siriwat Chedsi, Egat's deputy governor for power plant development and renewable energy, confirmed that a pre-feasibility study is underway to assess suitable technologies and potential construction sites. The planned SMR project is designed for a generation capacity of 300 megawatts (MW) and is anticipated to begin commercial operations in 2037.
Capital expenditure for this project is estimated at 60-70 billion baht.
While initial investment costs for SMRs are higher compared to conventional fossil-fuel facilities, their operational lifespan of 60-70 years—approximately three times that of a standard natural gas plant—is expected to lead to more stable long-term electricity tariffs and reduced lifetime generation costs, according to Mr Chedsi.
Regulatory Alignment and Site Selection
Egat is collaborating with the International Atomic Energy Agency (IAEA) to align safety protocols, technology choices, and regulatory frameworks with international best practices. Site selection will adhere to stringent IAEA guidelines, prioritising safety, seismic stability, and access to ample water resources for cooling systems.
The Eastern Economic Corridor is under preliminary consideration as a high-potential area due to its substantial industrial power demand. Sompop Pattanariyankool, deputy permanent secretary at the Energy Ministry, highlighted the commitment to systematically developing Thailand’s institutional capabilities and knowledge base for informed decision-making.
To ensure transparent oversight, Egat intends to propose the formation of a dedicated Nuclear Energy Programme Implementing Organisation, functioning similarly to an atomic regulatory body, in coordination with the Energy Ministry and the Ministry of Higher Education, Science, Research and Innovation.
Long-Term Energy Strategy and Future Capacity
Egat views SMR technology as a strategic component for achieving Thailand's long-term carbon neutrality objectives, providing continuous 24-hour power generation to support future industrial expansion, data centres, and electric vehicle infrastructure.
Nateekul Kriangchaiporn, Egat’s head for the SMR power plant preparation project, stated that following the operation of the first SMR, Thailand plans to install additional units, aiming to generate a total of 9,000 MW of electricity from nuclear sources by 2050.
Egat is also working closely with other national entities, including the Office of Atoms for Peace and the Thailand Institute of Nuclear Technology, to facilitate this long-term energy transition.
Implications for Thailand's Energy Landscape
The 2037 target for a 300 MW SMR, backed by a 60-70 billion baht investment, signals a strategic shift in Thailand's energy procurement under the 2026 Power Development Plan. This move aims to stabilise electricity costs for industrial consumers and reduce exposure to global gas price volatility.
Investors and industrial operators in Thailand should monitor the progress of site selection and the establishment of the Nuclear Energy Programme Implementing Organisation.
These developments will be crucial in determining the feasibility and timeline for the projected 9,000 MW nuclear capacity by 2050, directly impacting long-term operational costs and the stability of the nation's energy supply for key sectors.
This analysis is journalism, not investment advice; consult a licensed professional before making financial decisions.
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