Thailand announced that it was collaborating with Power Ledger, an Australian blockchain startup, to boost peer-to-peer trading of renewable energy. Thai Digital Energy Development (TDED) – a public-private joint venture – has signed a deal with Power Ledger to develop a blockchain-based digital energy business.
Power Ledger’s P2P energy trading application allows businesses, such as utilities, to host trading on the Platform, enabling the sale of surplus renewable energy generated at residential and commercial developments. The platform is involved in ongoing or completed trials and projects in Australia, New Zealand, Japan, India and the US.
The deal aims to develop solutions for peer-to-peer energy trading and environmental commodity trading, in collaboration with energy suppliers in Thailand. TDED and Power legger will first supervise the management of four “clean power” projects for Bangkok-based renewable energy provider BCPG Group.
TDED was set up in April 2019 as a joint venture between PEA ENCOM International Co., Ltd., a subsidiary of state enterprise Provincial Electricity Authority (PEA), which is responsible for providing electricity to areas outside of Bangkok and BCPG Pl to develop clean energy business
The deal between Power Ledger and TDED highlights the opportunities related to blockchain implementation in Thailand, as blockchain-enabled transactive energy solutions including peer-to-peer (P2P) energy trading could support Thailand’s effort to reach its 25% renewable energy target by 2037, as the country transitions away from fossil fuels.
(Sources: Coindesk; Ledger Insights)