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RACNAMA FUND

BACKGROUND

Thailand is an important industrial hub in the global refrigeration and air-conditioning (RAC) sector. Nowadays the use of RAC technologies also accounts for more than half of the electricity consumption and it is responsible for a significant GHG emission of the country. To encourage the use of greener and energy efficient cooling technologies with natural refrigerant, “RAC NAMA Fund” is established in 2018 as a financial instrument for the whole chain of supply and demand as well as service sector. With a budget of €8.3 million and a thoughtfully design of financial mechanisms with technical support, the fund will serve the needs of all stakeholders simultaneously and sustainably.

OBJECTIVE OF THE FUND

The RAC NAMA Fund aims to promote the market introduction of green cooling
technologies with financial instruments designed for various target beneficiaries in
RAC sector with specific financial instruments including:

Local producers

Residential consumers and SME commercial end-users

Training-testing facilities and Thai workforce

FUND UTISATION

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EGAT: Managing the Pioneer RAC NAMA Fund

 

On behalf of Thailand, EGAT plays an important role as the Project Fund Manager (PFM) of the RAC NAMA Fund, particularly to promote energy-efficient and climate-friendly technologies which is in alignment with EGAT’s vision of “Innovate Power Solutions for a Better Life”.

Whilst promising a core mandate of generating electricity to meet country’s growing demand and development, EGAT is highly determined to promote sustainability in terms of GHG mitigation and energy efficiency with well-known campaign of Label No. 5 over 20 years.

In addition, EGAT sets the target to mitigate 4 MtCO2e of GHG emissions by 2020 and 10 MtCO2e by 2030, which significantly contributes to the NAMA and NDC targets in 2020 and 2030 that Thailand has pledged to the international community.

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DONOR: NAMA FACILITY FUND

 

The NAMA Facility Fund aims to support developing countries to mitigate GHG emission and addresses the demand for tailor-made climate finance by funding the implementation of ambitious country-led NAMAs..

In 2016, the NAMA Facility Fund on behalf of the Governments of the Federal Republic of Germany and of the United Kingdom has approved Thailand’s RAC NAMA project, considered as the pioneer climate finance project in Thailand

The RAC NAMA Project aims to support Thailand in achieving the pledged GHG mitigation targets under UNFCCC framework, by promoting natural refrigerants for climate-friendly and energy efficient cooling technologies.

DURATION

The RAC NAMA Fund will operate until March 2021

FOR MORE INFORMATION

GIZ Office Bangkok

193/63 Lake Rajada Office Complex (16th fl.) New Ratchadapisek Road,
Khlong Toey, Bangkok 10110 Thailand
Tel: +66 2 661 9273 Email: racnama@giz.de

Project Fund Manager Unit, RAC NAMA Fund Electricity Generating Authority of Thailand (EGAT)
53 Moo 2 Charansanitwong Road, Bang Kruai, Nonthaburi 11130 Thailand