Power Ledger signs energy trading deal in Western Australia

Power Ledger signs energy trading deal in Western Australia

Energy trading blockchain firm Power Ledger has signed a three-year deal with developers that could bring power-sharing to over 100 apartments in Western Australia.

Power Ledger has partnered with property developer Nicheliving in a deal that will enable the firm to install its blockchain solar-sharing platform across 10 residential developments in the Perth metropolitan region.

The announcement added that the technology will be deployed with Connected Communities Energy, a joint venture between Perth’s largest medium-density property developer.

 

The system will be initially installed as the SkyHomes Inglewood development, with future housing developments over the next three years also getting the technology.

The Power Ledger system allows users to share solar energy on a tokenized blockchain platform with the aim of making power distribution more efficient.

Power Ledger co-founder and chairman Dr. Jemma Green said:

“We’re seeing an emerging trend of project developers considering more low cost and low carbon energy supplies during the design phase of their projects. Power Ledger’s platform incentivizes homeowners to invest in solar energy infrastructure.”

The platform is currently active in the National Electricity Network in South Australia and is likely to expand to the east coast within the next six months.

Featured image courtesy of Power Ledger

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