EU’s Biggest Electricity Grid Operators Partner With IBM to Use Blockchain for Green Energy
IBM and 3 major electricity grid operators in Europe have partnered together to help transition to renewable energy sources.
The newly created platform Equigy and is backed by TenneT a grid provider that covers sections of Germany and Netherlands, Swissgrid covers Switzerland and Terna that covers Italy.
Blockchain technology is being used for the interaction between electric vehicles (EVs) users and transmission system operators (TSOs) to be facilitated.
The International Association of Trusted Blockchain Applications’ (INATBA) co-chair, Irene Adamski, said Equigy is the promising project that the energy industry has been waiting on for 3 years already.
She added that powerhouses like TenneT, Terna and Swissgrid can solve the energy problems Europe is facing at the moment, and that Denmark may join the partnership very soon. Irene Adamski states:
“Should the Equigy pilot project succeed, the heavily integrated area of Netherlands-Germany-Switzerland-Italy is an excellent jump-off point to expand across the continent.”
Electric Car Makers Especially Interested
Leo Dijkstra from the IBM Energy, Environment and Utilities department said EV makers have a special interest in the project because their customers can see how the ownership of their EVs can be greatly reduced.
Francisco Carranza, the managing director at Nissan energy, mentioned how pleased he was to see the Equigy platform scaling very rapidly across Europe. This is what he said in a statement:
“Most importantly, the system ensures that the electric vehicle owners are in full control and manage their energy storage or utilization. This enables a balance of grids efficiently and in the most profitable way.”
Equigy Pilot to Run Until the End of 2020
The Equigy pilot is a proofs-of-concept (PoC) project that’s going to run until the end of 2020. Dijkstra said that because TSOs are the ones facilitating regulated processes for Equigy, the carmakers will only cooperate with the project, whereas Teran, TenneT and Swissgrid are going to remain the initiating companies.
When it comes to the challenges met along the way, one of them is integrating the pioneering technology with the legacy architecture and systems. Another challenge is having regulators collaborating with the existing system’s decentralization process.