Power Ledger To Build P2P Renewable Energy Trading Platform in Thailand
PowerLedger, an Australian blockchain startup known for its work in the field of renewable energy, has partnered with Thai Digital Energy Development (TDED) which is a public-private joint venture.
The partnership was announced on May 25th, which would see the development of an energy platform that would enable environmental commodification and peer-to-peer trading renewable energy trading.
Power Ledger has signed a deal to establish a digital energy trading business in Thailand, in partnership with Thai Digital Energy Development.
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— Power Ledger (@PowerLedger_io) May 25, 2020
The platform would offer blockchain-based transactive energy solutions, virtual power plants, issuance of renewable energy certificates and trading of carbon credits. The partnership aims to boost renewable energy and acceptance in Thailand, where the government is seeking to generate 25% of its electricity from renewable resources by 2037.
Jemma Green, the co-founder and executive chairman of PowerLedger, believes the new partnership and energy platform would be crucial to the establishment of economically viable renewable energy markets. He said:
“Our partnership with TDED will allow us to accelerate our efforts to promote distributed digital energy markets in Thailand.”
Thailand is Looking at Private-Public Sector Cooperation to Push Renewable Energy Usage
TDED being a joint venture of the private and public sector between Thai energy authorities and green energy specialists BCPG which is a Bangkok firm specializing in solar, wind and geothermal power and operations flourishing across Thailand, Japan and Philippines.
The partnership would oversee four BCPG clean power projects, including Chiang Mai University’s 12MW Smart Campus and its carbon management system.
PowerLedger has been working with BCPG from 2018 itself where the Australian startup helped the energy specialist to launch a similar peer-to-peer energy pilot program.
Vinod Tiwari, head of business development and sales at PowerLedger believes the partnership between the private and public sector could really help Thailand in achieving its renewable targets and given PowerLedger’s experience in the clean, green energy would only help in accelerating those goals. He explained:
“The platform acts as an operating system and innovative facilitator in the transformation of energy markets from centralised to hybrid, distributed energy markets underpinned by renewable energy and distributed energy resources. This unique market-based approach acts as an incentive to accelerate distributed energy resources and renewable energy deployment in communities and helps in achieving a country’s national renewable energy targets.”
The new platform framework would be open to other players in the renewable energy field in Thailand.