A New Delhi-based energy distribution company will implement the first blockchain solar energy trading project in India, in partnership with Power Ledger.
According to the publication, the company BSES Rajdhani Power Limited (BRPL) announced earlier this month that it had partnered with Power Ledger to execute the pilot project in a suburb of New Delhi that would allow the trade of solar energy between peers (P2P) .
The blockchain project will be implemented in gated communities with solar energy systems installed on the roof, covering a capacity of 5-6 megawatts of solar energy, as published.
For this commercial P2P project, any surplus energy generated by these solar energy systems located on the rooftop will be commercialized within the neighboring gated communities instead of being sent back to the grid through the net measurement, explained in the article.
The source notes that the BRPL company clarified that the project would help them improve the energy supply and efficiency of the system in order to meet the increased energy demand during peak hours.
In addition, the private energy distribution company plans to expand its partnership with Power Ledger. Amal Sinha, CEO of BRPL, said:
“By realizing the importance of distributed generation, we have already built an extensive renewable energy infrastructure, and this test with Power Ledger will help us fully utilize that energy. According to the result, BRPL and Power Ledger will extend the test to include blockchain-enabled solutions for applications of Group Network Measurement, Virtual Network Measurement, EV Load and Virtual Power Plant in the near future. ”
For its part, Power Ledger explained that for the exchange of energy between peers it is not necessary to install any additional hardware because the technology they offer “adds a transactional layer to the whole process that uses real-time data from smart meters to complete the transactions ”, according to the publication.
Currently, Power Ledger has been responsible for developing systems related to peer energy trading (P2P) in several countries, such as Japan and Australia.
In Osaka, Japan, the electric utility Kansai Electric Power Co. (KEPCO) and the Power Ledger cryptoactive energy exchange platform tested a blockchain-based system for transactional energy.
The system tested was developed by Power Ledger and both organizations carried out “a blockchain-enabled demonstration of the P2P transaction for the surplus of energy after the FIT”, the FIT being the feed-in-Tariff fee, a policy designed with the objective of promoting investment in renewable energy technologies.
On the other hand, Power Legder is also associated with the Japanese renewable energy firm Sharing Energy, where the solar panel supplier’s team will be able to use the company’s distributed Ledger to track clean energy consumption and monetize solar energy production to the clients.
In September, the company launched a blockchain pilot for the P2P energy exchange in rural areas of Western Australia, being implemented in nine commercial sites in the Wongan-Ballidu Region and in one in the Moora Region.
Through the solution offered by Power Ledger, the commercial buildings of these regions can make peer-to-peer exchanges (P2P) of the surplus of solar energy produced by them.
Last month Power Ledger also signed an agreement with electric power wholesaler Powerclub to deploy virtual power plants in southern Australia.
At that time they explained that Powerclub “will integrate Power Ledger blockchain-based technology, including its Virtual Power Plant (VPP) energy trading application, which will allow residents of Adelaide, Australia, to control the use of energy in their homes in an unprecedented way.