Power Ledger to accelerate Thailand renewables with partnership for digital energy trading
- Exclusive partnership signed with Thai Digital Energy Development (TDED) to develop a blockchain-based digital energy business in Thailand, working with energy players across the country.
- TDED is a joint venture with the Thai Government’s PEA and BCPG.
- Power Ledger’s TraceX REC trading capabilities will be deployed in Thailand this year.
- Full suite of platform features will be deployed at the 12MW Smart Campus at Chiang Mai University in Thailand’s north.
Perth, Western Australia: 25 May 2020 — Power Ledger has announced a partnership with TDED, to create a blockchain-based digital energy business developing peer-to-peer energy trading and environmental commodity trading solutions in Thailand.
The new partnership expands Power Ledger’s foothold in Thailand — which aims to generate 25 per cent of its electricity from renewable energy sources by 2037.
“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. Our partnership with TDED will allow us to accelerate our efforts to promote distributed digital energy markets in Thailand,” said Power Ledger’s Co-Founder and Executive Chairman Dr Jemma Green.
The collaboration will see the application of blockchain technology to manage energy at four BCPG Group clean power projects, which have been included in a “Sandbox Project” to accelerate renewables by Thailand’s Office of Energy Regulatory Commission.
One of the first projects will focus on energy and carbon management at the 12MW Smart Campus at Chiang Mai University in Thailand’s north.
“Power Ledger is among the very first pioneers to apply blockchain technology in peer-to-peer energy trading and trading RECs. 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,” said Bundit Sapianchai, President of BCPG and TDED.
Partnership with TDED strengthens Power Ledger’s relationship with TDED’s JV partner BCPG, extending the partnership with a mission to create renewable energy capacity with other companies throughout Thailand.
“We are keen to work with energy market participants across Thailand to establish new projects, so we would love to use the TDED framework to establish new relationships and partnerships with energy companies wanting to use blockchain energy trading technology,” said Dr Green.
Power Ledger has been working with BCPG in Thailand since 2018, when it launched a P2P energy trading trial in the heart of Bangkok, Thailand across the T77 precinct. This marked the first time renewable energy was ever exchanged in a P2P environment in Asia.
With this track record and the new partnership in place, Power Ledger and TDED will now co-develop innovative products and services based on blockchain technology in peer to peer electricity trading and environmental commodity trading for the Thai market.
Power Ledger’s blockchain-enabled platform facilitates P2P energy trading between “prosumers” — people and organisations who can be both energy producer and consumers, while selling the excess energy to their local neighborhood via the digital platform.
Power Ledger’s TraceX REC trading capabilities on its platform will be deployed in Thailand this year, which will provide a marketplace for renewable energy certificates and carbon credits trading between generators and buyers.
The partnership solidifies Power Ledger’s market leading position in Thailand for renewable energy trading, and underscores its efforts across the ASEAN region, including projects in Japan with utility KEPCO and a separate project with Sharing Energy and eRex and in Malaysia with SEDA.
About Power Ledger
Power Ledger is an Australian technology company that has developed a blockchain-enabled platform to enable energy trading, renewable asset financing and more efficient carbon and renewable energy credit markets. Power Ledger’s technology won Sir Richard Branson’s global Extreme Tech Challenge award. Units of electricity (kWh) are traded via the P2P blockchain-enabled platform using pre-purchased tokens called Sparkz that are issued against POWR tokens.
About TDED and BCPG
TDED is a joint venture between the Thai Government’s PEA ENCOM International, which is a subsidiary of Provincial Electricity Authority (PEA) and BCPG.
BCPG is a green energy leader with solar, wind and geothermal power businesses in Thailand, Japan, the Philippines and Indonesia and has a market capitalisation of more than $US1.3billion and. BCPG has secured approximately 600MW from renewable power plants and is continuously growing. More information: www.bcpggroup.com
Media Contact
Heidi Cuthbert
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