Power Ledger P2P Platform Goes Across the Meter with BCPG at T77 Precinct, Bangkok
Power Ledger, together with Thai renewable energy business BCPG, have launched a world-first peer-to-peer (P2P) renewable energy trading trial at the T77 urban precinct in Bangkok, Thailand.
- Up to 635KW of Solar PV will be traded across four participating entities at Bangkok’s T77 precinct, including a shopping centre, international school, serviced apartments and a dental hospital.
- The trial is the first ‘across the meter’ energy trading project of its kind within the ASEAN region, with Thai utility Metropolitan Electricity Authority (MEA) allowing access to its network for the physical transaction of energy between participants.
- Power Ledger’s P2P platform will leverage participants’ excess renewable energy to help lower their energy costs and maximize the utilization of renewable energy.
- BCPG and Power Ledger have agreed to deploy the solution across other prospective sites a with total power generation capacity of 2MW over a 3-year period upon successful completion of the trial.
Bangkok, Thailand: Power Ledger, together with Thai renewable energy business BCPG, have launched a world-first peer-to-peer (P2P) renewable energy trading trial at the T77 urban precinct in Bangkok, Thailand.
Power Ledger’s P2P platform will be used to trade up to 635KW of BCPG solar PV energy capacity between four participating entities at T77, demonstrating the efficient trading of renewable energy in order to lower energy costs for consumers.
The announcement builds upon the December 2017 agreement between BCPG and Power Ledger to bring distributed renewable energy trading to Thailand.
Centrally located off Bangkok’s famous Sukhumvit, T77 is an 8-hectare lifestyle precinct, the brainchild of leading Thai developer Sansiri, catering to both the Thai and international communities.
Participants in the energy trading trial include the Habito shopping mall, Bangkok International Preparatory & Secondary School, Park Court Serviced Apartments and Dental Hospital Bangkok.
BCPG will design and install the connections, meters and solar PV, while Power Ledger will provide its world-leading blockchain technology as the transactive layer across 18 meter points to monitor energy transactions between participants, enable P2P trading, generate invoicing, and evaluate the trading position of individual participants.
In an ASEAN first, Thai utility, the Metropolitan Electricity Authority (MEA), will allow access to their network for the physical transaction of energy and leverage metering data from Power Ledger’s platform for customer billing.
The aim of the trial is to provide a base case for future prospective projects in the region.
BCPG has also signed an agreement with the MEA to study the feasibility of a power distribution system and the development of the solar PV rooftops in the next two years.
“The MEA forecasts P2P energy trading to become mainstream for power generation in the long run,” an MEA spokesperson said.
BCPG, MEA and Power Ledger will demonstrate to the Thai, and wider ASEAN markets and related regulatory bodies that it can provide communities with lower-cost energy systems by allowing generating customers to monetize excess energy generation through selling energy to third parties.
Upon successful completion of the trial, Power Ledger and BCPG will deploy the solution across 31 other prospective projects with total power generation capacity of 2MW over a 3-year period.
Power Ledger Managing Director David Martin said the partnership with BCPG will demonstrate to a diverse range of entities the benefits of renewable energy trading.
“This trial will showcase how our world-leading blockchain technology can provide secure, trustless and immutable transactions of renewable energy between participants,” Mr Martin said.
“Importantly, having a utility allow the physical transaction of energy inside the T77 precinct is an important step towards our aim of providing individuals with the ability to sell their excess renewable energy.
“Thailand is a regional showcase for the integration of distributed renewable energy technologies and we’re really pleased to be working with BCPG and the Thai authorities to help identify the path towards a low-carbon energy future.”
About Power Ledger: Power Ledger is a software company developing solutions for the energy industry. The Power Ledger Platform is an ecosystem of blockchain applications. Since releasing our flagship peer-to-peer trading solution that allows households that whole own energy assets to trade electricity with their neighbors and set their own prices, we have been engaged to develop additional products, such as microgrid trading, carbon product trading, electric vehicle settlement and asset germination events.
More information: www.powerledger.io
About BCPG: Flagship for the green power business of Bangchak Corporation (BCP Plc), and the sole proprietor operating purely in the renewable energy business sector of Thailand, BCPG operates and invests in four countries (Thailand, Japan, Philippines and Indonesia) with three technologies (Solar, Wind and Geothermal powers). At present, BCPG has secured approximately 600MW from renewable power plants and is continuously growing.
While being committed to investing and operating green power plants globally, BCPG also seeks to better meet consumer’s needs by diversifying into many types of renewable energy and seeking innovative products and services.
More information: www.bcpggroup.com