Venture capital (VC) funding into smart grid technology companies stands at $101 million in 21 deals in Q1 2014, compared to $148 million in 31 deals in Q4 2013, says the latest report from Mercom Capital Group.
“Funding into Smart Grid companies is trending up the past couple of quarters,” said Raj Prabhu, CEO and co-founder of Mercom Capital Group. “The average disclosed VC round in Q1 2014 came to $4.8 million, the same as Q4 2013.”
There were five Seed rounds in the first quarter including four accelerator deals funded by Rockstart Accelerator.
Three electric utilities plan to develop a smart power grid nationwide at a cost of 150 billion baht (~$4.63 billion) through the year 2026 in a bid to enhance energy efficiency and reliability, according to the Energy Policy and Planning Office (EPPO).
Eppo secretary-general Samerjai Suksumek said the smart grid will focus on improving the quality of the whole chain power generation, transmission and distribution through the use of IT software and smart equipment.
The Electricity Generating Authority of Thailand (Egat) is developing a pilot project in the northern province of Mae Hong Son, while the Metropolitan Electricity Authority (MEA) is looking at its four service areas in Bangkok and the Provincial Electricity Authority (PEA) has chosen Pattaya for its trial.
Elsewhere, micro grids are under construction in Mae Hong Son’s Mae Sariang municipality at a cost of 320 million baht ($9.8 million approx) and on Koh Kut and Koh Mak for 225 million baht ($6.9 million approx).
In the second phase (2017-21), the project will expand to more areas in the country and include items such as demand response, energy storage and a charger system for electric vehicles. In the last phase (2022-26), the grid is expected to operate throughout Thailand and virtual power plants may be included, Suwat said.