Thailand Turns to Blockchain to Boost Renewable Energy Push

Thailand is teaming up with a blockchain agency to encourage peer-to-peer buying and selling of renewable vitality.

Announced on Monday, Thai Digital Energy Development (TDED) – a public-private three way partnership – has inked a take care of blockchain vitality startup Power Ledger to develop a blockchain-based digital vitality enterprise.

The deal, additionally in collaboration with vitality suppliers in Thailand, seeks to develop options for peer-to-peer vitality buying and selling and environmental commodity buying and selling, Australia-based Power Ledger mentioned in a press launch.

Ultimately, the companions goal to help Thailand’s drive to hit a 25% renewable vitality goal by 2037, because it transitions away from fossil fuels.

“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,” mentioned Power Ledger’s co-founder and govt chairman, Jemma Green.

“Our partnership with TDED will allow us to accelerate our efforts to promote distributed digital energy markets in Thailand,” Green added.

The companions will oversee the administration of 4 “clean power” tasks from renewable vitality supplier BCPG Group, which have been included by way of a sandbox venture to encourage uptake of renewable vitality by Thailand’s Office of Energy Regulatory Commission.

BCPG is a Bangkok-based agency dealing in photo voltaic, wind and geothermal energy, with operations in Thailand, Japan, the Philippines and Indonesia. Together with a Thai electrical producer below the Provincial Electricity Authority, it runs the TDED enterprise.

One of the primary tasks to return out of the Power Ledger collaboration will concentrate on vitality and carbon administration on the 12-megawatt “smart campus” at Chiang Mai University in Thailand’s north.

Power Ledger’s “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.” mentioned TDED and BCPG president Bundit Sapianchai.

Power Ledger has been working with BCPG in Thailand since 2019 when it launched a peer-to-peer vitality buying and selling trial in Bangkok.

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