World Bank Supports Industrial Estate Organization with $100 Million for Low-Carbon Project

The Industrial Estate Organization (IEAT) has announced a full-scale Low Carbon City and Carbon Market Development project, securing a World Bank loan totaling $200 million. As a pioneer public sector organization, IEAT has been allocated $100 million (approximately 3.4 billion baht) to support renewable energy and energy efficiency investments in industrial parks. Initial World Bank studies identified Map Ta Phut and Laem Chabang industrial parks as having significant potential for greenhouse gas reduction suitable for international trading. IEAT will implement the loan through the Export-Import Bank of Thailand, targeting private energy management companies and contractors to install greenhouse gas reduction technologies like ground-mounted, rooftop, and floating solar systems, energy storage, and EV charging stations. The project aims to sell 1 million metric tons of carbon credits by 2026, with credits certified by Gold Standard and potentially attracting foreign investment. The project is expected to reduce cumulative carbon emissions by 2.33 million tons over 10 years and establish a carbon credit market in Thailand.