GO WePower! Renewable energy financing and trading platform alpha V1 is launched!
I am thrilled to announce that today is the day that all of us were looking forward to — WePower blockchain-based green energy financing and trading platform’s Alpha version 1 is up and running! You can now create your account, browse through the first renewable energy auctions already available on the platform, express your interest to participate in them and check donated energy pool.
300MW ready for the auctions
We are launching the platform with one of the Spain’s leading renewable energy developers Conquista Solar, we’ve announced a partnership with back in January. In the initial phase, six solar projects developed by Conquista have been added to the platform. Each project has a net capacity of 50MW, bringing the total production capacity of projects on the platform at launch to 300MW.
All six solar plants are located in Badajoz, at the Extremadura region of Southwest Spain. That is also Zone 5 (one of the highest) solar intensity area. These solar projects are market-based projects intended to sell electricity to the wholesale market.
The capacity at launch makes 30% of our first year commitment, targeted to reach the total initial auction capacity of 1GW within 12 months after the business launch in Autumn.
John Koopman, Managing Partner at Conquista Solar says:
“A year ago energy from renewable energy sources finally reached grid parity. We wish to develop more renewable energy plants and we are happy that WePower is creating a novel way to finance renewable energy development. We believe that people’s participation will enable the faster transition to a fully renewable future.”
Platform Alpha Version 1 functionality
Earlier in April, I presented the platform’s video walkthrough and already introduced you with upcoming functionalities. If you have missed the video update, I encourage you to watch it as it provides a good overview of what we are building at WePower.
Current platform’s Alpha version 1 allows one to present green energy auctions, express interest to participate in the listed auctions, see donated green energy pool, have an explanatory tour around the platform, and more — be sure to sign up and try it out yourself here.
However, some of the functionalities, you’ve seen earlier, are locked for now, “Auctions” window doesn’t show participation in the auction functionality. “Dashboard”, “Marketplace” and “Portfolio” views will be unlocked gradually up until the first auctions on the platform as soon as each block is rigorously tested out with the partners.
Our CTO Kaspar shares wider perspective on the upcoming tasks for engineering team to accomplish, so the functionalities would be unlocked. Check it here and take a look at the sneak peak of the “Dashboard’, “Auctions” and “Marketplace” functionalities.
Dr. Peter H. Diamandis, the lead of our Advisory Board and Founder and Chairman of the X Prize Foundation says:
“The combination of blockchain-based financing mechanisms with digital energy systems, such as smart grids, presents a critical opportunity to drive a meaningful impact and address the global energy challenge that we face. We are at a pivotal point where finance, technology and business can and should come together to enable the shift towards abundant green energy for all.
WePower’s Alpha platform launch makes that a reality. By essentially digitizing power, WePower is helping to dematerialize, demonetize and democratize access to Green Power. This is the pattern we are seeing in industry, after the industry is leading us rapidly towards a future of abundance.”
Energy donation pool
We are going to use Alpha version to show intended donated energy amount that will be distributed to the WPR token holders. We show this using energy donations pool indicator on the platform.
“Energy counter” shows the total accumulated amount of energy donations (in megawatt hours) from all green energy auctions currently listed on the platform. Donations pool will constantly be updated as new projects will be added to the system. 6 projects are already added to the platform at launch with net capacity of 50MW each, injects donated energy pool with 5670MWh of aggregated amount of donated energy from each plant for 5 years.
With this milestone achieved, now we entered an intense new development phase to add new features and green energy projects to the platform. New partnerships with green energy developers and market players will be announced, we are also preparing for forthcoming nationwide energy tokenization event in Estonia with Elering.
Green team is restlessly working on launching the business.
The Key takeaway
The energy sector as a whole — and energy infrastructure in particular — has until recently been largely untouched by the digital disruption that has transformed so many other industries.
I strongly believe, that with Alpha platform launch, WePower brings a blockchain energy network to commercial fruition.
We continue to work tirelessly to add new features to the platform and build new partnerships with renewable energy producers, system operators, and regulators to build on this milestone.
All the best,
Co-founder and CEO at WePower