SET-listed Global Power Synergy (GPSC) is planning to co-invest in a small modular reactor (SMR) overseas to prepare the company for a similar nuclear power plant project in Thailand.
An SMR is a type of nuclear power technology with a capacity of up to 300 megawatts per unit, about one-third the generating capacity of larger, traditional nuclear power reactors, according to the International Atomic Energy Agency.
GPSC, the power generation arm of national oil and gas conglomerate PTT Plc, views SMR power plants as a reliable solution to meet its customers’ energy demands, especially for businesses seeking low-carbon, clean energy alternatives.
The company is in talks with a prospective business partner to jointly carry out an SMR project, with a deal expected to be completed next year, said Sirimet Leepagorn, president and acting chief operating officer of GPSC.
The targeted partnership would also supply power to an overseas petrochemical complex, he said.
The deal could pave the way for developing an SMR project in Thailand, provided the country opens up opportunities for private sector involvement in such plants, said Mr Sirimet.
“We may talk with our partner about investing in an SMR project here,” he said.
GPSC is confident it can smoothly adopt the SMR technology, thanks to budget availability and a plan to educate and train its employees on nuclear power know-how.
The joint project requires an investment of roughly US$6 million per MW.
SMRs have the potential to help Thailand generate more clean power and ensure long-term national energy security because, unlike renewable energy, nuclear energy enables power plant operators to deliver a steady supply of electricity. The sun and wind are intermittent sources of energy as their electricity generation capacity depends largely on weather patterns.
SMR technology is capable of reliably meeting domestic electricity needs while lowering carbon emissions, aligning with PTT’s net-zero target, a balance between greenhouse gas emissions and absorption, said Mr Sirimet.