Australian energy trading software firm and blockchain project Power Ledger has inked a deal with the Thai Digital Energy Development (TDED) to launch a digital energy trading business in Thailand. This, according to a report by iTWire, May 25, 2020.
Establishing a Digital Energy Trading Business
In a bid to leverage the benefits of distributed ledger technology (DLT) in the energy trading space, Western Australia-based energy trading platform Power Ledger has joined forces with TDED – a subsidiary of Thailand’s Provincial Electricity Authority (PEA).
According to the terms of the alliance, the two entities will jointly develop a blockchain-based digital energy business that will enable peer-to-peer (P2P) energy trading and environmental commodity trading solutions in Thailand.
The partnership is a particularly significant one for Power Ledger as it seeks to expand its business footprint in the Asian energy market. Notably, Thailand aims to generate close to a quarter of its electricity from renewable energy sources by 2037.
Commenting on the partnership, Dr. Jemma Green, Co-founder, and Executive Chairman, Power Ledger, said:
“Blockchain enabled transactive energy solutions including peer-to-peer (P2P) energy trading, virtual power plants as well as renewable energy certificates and carbon credits trading will be the key to establishing economically viable renewable energy markets.”
“Our partnership with TDED will allow us to accelerate our efforts to promote distributed digital energy markets in Thailand.”
Similar sentiments were echoed by Bundit Sapianchai, President, TDED. He noted:
“Power Ledger is among the very first pioneers to apply blockchain technology in peer-to-peer energy trading and trading RECs. Such expertise in state-of-the-art technology will help materialize TDED’s goal in the development of digital energy products and services, as well asmaking clean energy more accessible to people.”
The partnership will witness the application of blockchain technology for energy management at four BCPG Group clean power projects. For the uninitiated, BCPG is TDED’s joint-venture partner focused on developing clean and renewable energy solutions in the Asia-Pacific region.
The aforementioned clean power projects are included in a “Sandbox Project” aimed at accentuating the use of renewable energy by Thailand’s Energy Regulation Commission. One of these projects is focused on energy and carbon management at the 12MW Smart Campus at Chiang Mai University in northern Thailand.
Powering the Global Blockchain Energy Space
Power Ledger is a leading name in the DLT energy sector which facilitates P2P energy trading between both energy producers and consumers. Power Ledger allows energy producers to sell the excess energy to the local neighbor through its digital trading platform.
BTCManager reported in November 2019 that BSES, New Delhi’s major electricity distribution company had integrated Power Ledger’s blockchain-powered trading solution into its processes to allow residents to trade their excess solar energy in a frictionless manner.