Australian blockchain project Power Ledger has tightened its grip on the Asian energy market by signing a major deal with a Japanese solar company.
Sharing Energy Co. will use the decentralised trading platform to track renewable energy consumption from 100 customers across the regions of TokyoKansai, Chubu and Kyushu.
Power Ledger expects the project to grow from 100 rooftops to over 55,000 rooftops by the end of 2020 and build on its “growing momentum in Asia.”
“We are proud of the work we are doing in Japan, and the strides we are making in democratising energy across the globe,” said Power Ledger co-founder Dr Jemma Green.
“This partnership is an exciting example of how our blockchain technology can make visions of implementing scalable, renewable energy solutions a reality for partners and communities worldwide.”
Right place, right time?
Power Ledger’s foray into Japan comes ahead of proposed cuts to the country’s feed-in-tarrif program in November.
It’s then that Sharing Energy plans to sell excess energy to interested third parties and consumers.
Power Ledger says it will initially provide near real-time usage data to Sharing, and from November onwards Sharing will use Power Ledger’s peer-to-peer platform to facilitate trading using real-time data from existing smart meters.
“As our country is reevaluating how people and businesses buy and sell energy, we are fortunate to be working with an established leader like Power Ledger,” said Emiko Koga, president of Sharing Energy.
“We look forward to positively impacting the Japanese energy market alongside them and supporting their commitment to provide clean energy that is affordable and available to all.”
Power Ledger is already working with the country’s biggest privately-owned electricity retailer Kansai Electric Power Company (KEPCO) to develop a ‘Virtual Power Plant.’
The company believes the model can help the country address challenges with excess solar generation and meet its Paris Climate Goal of reducing its carbon emissions by 26 per cent by 2030.
Power Ledger’s progress
Power Ledger’s deal Sharing Energy follows other global partnerships involving peer-to-peer trading, including three deployments in major energy markets in the U.S. and a world-first trading trial in Fremantle, Western Australia. M