Power Ledger delivers first-of-its-kind renewable energy project in South East Asia
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In partnership with leading renewable energy provider BCPG, Power Ledger sets the bar for modern decentralised energy trading in Thailand.
Perth-based Power Ledger is forging major inroads towards making peer-to-peer (P2P) energy transfer a reality around the world.
Its cutting-edge blockchain technology is enabling renewable energy captured by residential and commercial entities to be traded securely and efficiently. Individuals and communities are empowered because they have access to electricity which is low-cost, reliable and renewable. Neighbours also receive a fair return on their investment because transactions are transparent, automated and easy to understand.
Since the company’s launch in 2016, it has secured partners for energy trading projects in Australia, New Zealand, Japan, India, and the United States. The company’s innovative system has now expanded to Thailand. Power Ledger has teamed up with major Thai renewable energy company BCPG and Thai property-developer Sansiri to launch a new P2P renewable energy trading project in Bangkok, the first of its kind in South East Asia.
Moving towards a sustainable future
BCPG initially reached out to Power Ledger as part of its search for innovative energy solutions, particularly blockchain-enabled methods of energy trading. From there, a new P2P energy trading platform was launched at Bangkok’s T77 precinct, which comprises a shopping centre, an international school, serviced apartments and a dental hospital. Rooftop solar systems with a capacity of 635 kilowatts and a co-located battery storage system will provide 20 per cent of the community’s overall electricity needs.
By transforming electricity into an easily distributed commodity, the Power Ledger model is allowing individuals and communities in the T77 Precinct to choose the source of their power, while providing a cheap, dependable and low-carbon mechanism to harness energy. On successful completion of the trial, Power Ledger and BCPG will be looking to deploy the solution across 31 new projects in Thailand, with total power generation capacity of
2 megawatts over a three-year period.
As a country dedicated to modernising its economy for the digital era, Thailand is a fitting choice for the P2P energy trading model. The Thai Government is backing BCPG’s efforts as a clean energy provider, and Power Ledger has stated that the Thai regulatory climate continues to improve since the company began researching the viability of market entry. Issues remain about how to register the implementation of P2P across the grid, but the cryptographic model on which blockchain depends seems to pose no significant legal or practical difficulty.
For Power Ledger, its entry into the Thai market comes with several distinct advantages. The country’s promotion and incentive programs for technology-based companies help make Thailand an attractive investment destination, while its strong and developed economy lays the groundwork for showcasing Australian best practice and innovation.
Support from Austrade
‘Austrade was instrumental in supporting Power Ledger’s efforts in Thailand by facilitating early-stage discussions with electricity generation and transmission authorities and through its Export Market Development Grants program,’ said David Martin, Power Ledger’s co-founder and managing director.
Power Ledger also cites a commitment to close collaboration with its Thai business partners, as well as a long-term strategic outlook, as essential elements for foreign companies to succeed in the market.
The presence of Power Ledger in Thailand gives the company valuable exposure to other modern businesses and industries wishing to pursue clean energy production and distribution as part of their own dedication to sustainability. It also provides a low-carbon model for countries in the region that are currently considering renewable energy concepts.
In addition to P2P trading, Power Ledger’s other suite of applications include carbon credits, EV tracking, microgrids and virtual power plants. The company’s ambitions through its technological innovations is to lead the world towards a greener environment through decentralised market solutions. For a company founded just two years ago, its progress toward that goal has been remarkable.
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