Blockchain-based Renewable Energy in Thailand

Blockchain-based Renewable Energy in Thailand

The team at pioneering peer-to-peer (P2P) energy solutions provider Power Ledger (POWR) have announced an exclusive deal with Thai Digital Energy Development (TDED) to aid the country’s ambition of generating 25% of its electricity from renewable energy sources by 2037.

The agreement with TDED, who are a joint venture between a subsidiary of the Government’s Provincial Electricity Authority (PEA) and renewable power company BCPG Group, will see Power Ledger creating a blockchain-based P2P energy and environmental commodity trading solution for Thailand.

Renewable Marketplace

Power Ledger’s digital platform enables P2P energy trading between people and organisations who can be both energy producers and consumers – collectively known as “prosumers” – as well as facilitating the selling of excess energy to local residencies and businesses.

As part of the collaboration, blockchain will be utilised to manage energy at four BCPG Group clean power projects which were accepted into Thailand’s Office of Energy Regulatory Commission’s Sandbox Project last year.

An expansion upon the existing project to create a 12MW Smart Campus at Chiang Mai University is expected to be one of the first initiatives that will see a focus on energy and carbon management.

According to Power Ledger’s Co-Founder and Executive Chairman, Dr Jemma Green, “Blockchain enabled transactive energy solutions including peer-to-peer 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.”

With Power Ledger deploying their TraceX REC trading platform in Thailand this year, the country will have a marketplace for renewable energy certificates and carbon credits trading for generators and buyers.