The Australian-based technology company, Power Ledger has recently announced an exclusive partnership with Thai Digital Energy Development (TDED). It disclosed this in an official post on May 25 giving details of the collaboration.
This partnership between Power Ledger and TDED aims to develop and build a blockchain-based digital energy project in Thailand. Both parties will also work with energy players across the country to achieve better results.
Power Ledger has made use of its technological expertise to develop a blockchain-enabled platform. The platform promotes the trading of energy, financing of renewable assets, and credit markets for efficient carbon and renewable energy. TDED, on the other hand is a joint venture between BCPG and PEA ENCOM of Thailand.
Power Ledger gains massive entrance into Thailand
Power Ledger will work towards developing a peer-to-peer energy and environmental commodity trading solutions in Thailand. This strategic collaboration thus gives the company a massive entrance into Thailand. With this foothold in the country, Power Ledger would be able to generate 25% of its electricity from renewable energy sources by 2037.
In the words of Dr. Jemma Green, Power Ledger’s co-founder and executive chairman: “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.”
Furthermore, the team up with TDED would directly result in accelerating their efforts to promote distributed digital energy markets in the country.
Blockchain-based energy projects
This exclusive partnership will also strengthen the relationship between Power Ledger and TDED’s partner BCPG. Blockchain technology application will in place for the management of energy at four BCPG Group clean power projects.
These projects are part of a “Sandbox Project” to accelerate renewables by Thailand’s Office of Energy Regulatory Commission. The blog specified that one of these projects would be at the 12MW Smart Campus at Chiang Mai University focusing on energy and carbon management.
According to Bundit Sapianchai, president of BCPG and TDED: “Power Ledger is among the very first pioneers to apply blockchain technology in peer-to-peer energy trading and trading RECs.”
Moreover, this expertise in state-of-the-art technology would help materialize TDED’s goal in developing digital energy products and services. Also, the partnership would enable making clean energy more accessible to people.
In other related news, we previously reported Lition, Sparwelt, and RTL working together to create a green energy project in Germany. Earlier, we covered Shell investing in the commercialization of blockchain-based community energy networks.