- Exclusive partnership signed with Thai Digital Energy Development (TDED) to develop a blockchain-based digital energy business in Thailand, jointly work with energy players across the country.
- TDED is a joint venture with the Thai Government’s PEA ENCOM and BCPG.
- Power Ledger’s TraceX REC trading capabilities will be deployed in Thailand this year.
- A full suite of platform features will be deployed at the 12-MW 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 across the nation.
TDED is a joint venture between the Thai Government’s PEA ENCOM International, which is a subsidiary of Provincial Electricity Authority (PEA) and BCPG. The new partnership expands Power Ledger’s foothold in Thailand – which aims to generate 25 percent of its electricity from renewable energy sources by 2037.
“Blockchain enabled transactive energy solutions, including peer-to-peer energy trading, virtual power plants, renewable energy certificates, and carbon credit 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 three 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 the North part of Thailand.
“Power Ledger is among the first pioneers to apply blockchain technology in peer-to-peer (P2P) 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 and make clean energy more accessible to people,” said Bundit Sapianchai, President of BCPG and Chairman of the Board of TDED.
The TDED project strengthens Power Ledger’s relationship with TDED’s JV partner BCPG, extending the partnership with a mission to create renewable energy capacity throughout Thailand.
“We are keen to work with energy market participants across Thailand. Together with TDED, we would love to establish new relationships and partnerships with anyone wanting to use blockchain energy trading technology,” said Dr. Green.
Power Ledger has been working with BCPG in Thailand since 2017 and successfully launched a P2P energy trading trial in the heart of Bangkok, Thailand, across the T77 precinct in 2018. 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 organizations who can be both energy producers 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 credit 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 renewable energy trading platform. Power Ledger’s technology won Sir Richard Branson’s global Extreme Tech Challenge award. The company has built a series of products to enable energy trading, renewable asset financing and more efficient carbon and renewable energy credit markets. Units of electricity (kWh) are traded via the P2P blockchain-enabled platform using pre-purchased tokens called Sparkz that are issued against POWR tokens.
BCPG renewable energy arm of BCP Group, has a market cap of more than $US1.3billion and is a green energy leader with solar, wind, hydro and geothermal power businesses in Thailand, Japan, Laos, the Philippines and Indonesia. BCPG has secured approximately 600MW from renewable power plants and is also a leader of digital energy business in Thailand. More information: www.bcpggroup.com
TDED is a joint venture between BCPG and PEA ENCOM International Co., Ltd., a subsidiary of Thai Government’s Provincial Electricity Authority (PEA). The Company aims to expand clean energy business in response to the changing world by using innovation to develop digital energy products and services, as well as to make clean energy more accessible to people.
About PEA ENCOM
PEA ENCOM International Co., Ltd. or PEA ENCOM, the subsidiary of the Provincial Electricity Authority (PEA), the largest electricity distributor in Thailand. The company was established as a state enterprise for the purpose of engaging in domestic and international business related to power energy investment. PEA ENCOM is seeking for a new challenge in new and renewable energy business to support PEA’s vision to transform into digital utility organization.