Power Ledger Expands Blockchain Energy Footprint in Thailand
Today, the Australian blockchain firm Power Ledger declared a collaboration with Thai Digital Energy Development (TDED) to develop the country’s trading infrastructure for energy and environmental commodities.
Power Ledger earlier administered tests of its platform in Thailand with state-controlled renewable energy company BPCG. The TDED is a joint venture between BPCG and the Provincial Electricity Authority (PEA) of Thailand. It is operating on modifying the power business in the country and decentralizing the market. Thailand intends to multiply renewable energy production to 30% by 2037.
Power Ledger will give its blockchain solutions for four renewables projects at the BCPG Group following the new deal. The initiatives are part of a ‘Sandbox Project’ of Thailand’s Office of Energy Regulatory Commission to build renewables utility. Power Ledger will commence work by fixing up its energy trading and carbon management platform at the 12MW Smart Campus at Chiang Mai University in Thailand.
“Power Ledger is among the very first pioneers to apply blockchain technology in peer-to-peer energy trading and trading RECs,” said Bundit Sapianchai, President of BCPG and TDED in a statement. “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 as making clean energy more accessible to people.”
The startup will use its TraceX REC trading platform in Thailand later this year to produce a marketplace for purchasing renewable energy certificates and carbon credits. In the past few months, Power Ledger has inked various deals over the world. In Asia, it is operating with Japan’s KEPCO, in Malaysia with SEDA, in India with BSES Rajdhani Power.
Among other deals, the company is operational in the United States, Australia, Austria, Italy, and France.