Power Ledger, the Australian energy technology firm, has secured a contract with Italy’s leading electricity utilities Alperia SpA.
Power Ledger won the contract after participating and being named Alperia Startup Factory Innovation Camp’s winner. West Australian P2P (peer-to-peer) energy trading pioneer beat out 230 applicants from 37 countries.
Power Ledger is an energy trading network that uses blockchain technology to run its operations.
They help users to transact energy, trade environmental products and provide investors a platform to invest in renewables.
Headquartered in South Tyrol, Alperia focuses on producing energy from renewable sources. With over 280,000 customers, Alperia is one of Italy’s largest suppliers of green energy.
Renewable energy and blockchain
The core focus of the collaboration will be to enhance Alperia’s services for renewable energy sources. Power Ledger will provide new ways for the Alperia to provide better services to its users.
Through Power Ledger’s blockchain technology, the partnership will help Alperia to explore and implement new ways to improve its relationships with both commercial and residential customers.
The services would include origin tracking, energy trading, measurement and verification, and reporting of renewable energy certificates.
As per the schedule, the trial will last from January to May 2020 and will add new service offerings for Apleria’s new and existing customers.
Power Ledger’s technology provides effective solutions for transacting renewable energy trading and processing transactions instantaneously as a digital ledger.
Italy at the forefront of renewable energy adoption
Back in 2013, in Italy, the feed-in-tariffs for solar didn’t provide enough options for the customers to monetize excess solar.
Another factor that impacted the predictability of cash flow was volatile retailer prices.
Dr. Jemma Green, Co-founder and Executive Chairman at Power Ledger noted that “Italy has been leading the adoption of renewable energy globally and is one of eight EU members to commit to phasing out coal by 2030.”
“Leveraging Alperia’s customer base, Power Ledger’s technology will help demonstrate how the country can rapidly progress its green energy targets,” she added.
Power Ledger will integrate its technology into the smart meters at Alperia dedicated test sites. At first, it will look upon the benefits provided to the customers via observing customer’s responses to Alperia’s products.
Speaking about the new contract, Alperia CEO Johann Wohlfarter noted that, “We are always looking for new impulses for the energy sector and with the second edition of Alperia Startup Factory we want to strengthen Alperia’s innovative drive.”
Anna Lena, Alperia’s Project Lead and Innovation Manager, affirmed in a statement that Power Ledger’s P2P trading technology would play a key role to put their customers in driver’s seat by protecting their investment and also work for the betterment of environment to have a carbon-free future.
Alperia has helped Italy to enhance further in the energy sector and with its new contract with Power Ledger; it will help to grow the country’s trade of renewables.
At present, Italy is way ahead of the rest of the European countries as it had achieved its energy strategy target of 17% renewables back in 2014.
Alperia launched Startup Factory with WhatAVenture in 2018 to support innovative projects and companies.