Power Ledger will partner with Japan’s second largest electricity utility KEPCO. Picture for illustration purposes only.
Power Ledger has announced a partnership with Kansai Electric Power Co.(KEPCO) to trial Virtual Power Plants (VPP) with peer-to-peer renewable energy trading in Japan.
Power Ledger will provide KEPCO access to its trading platform to monitor and facilitate energy trading, and allow participants to sell their excess energy peer-to-peer in near real time.
Power Ledger managing director and co-founder David Martin said the trial will allow KEPCO to familiarise itself with the new technology and demonstrate the benefit of peer-to-peer trading.
“The fact that KEPCO is exploring the Power Ledger platform as a solution is a massive indication that the industry has accepted that change is inevitable,” said Mr Martin.
KEPCO intends to use the trial to gain support for the development of VPP where Blockchain technology could help support local energy demands.
“The energy industry is traditionally conservative, and rightly so. When they implement changes consumers are relying on them to be certain it’s the right decision,” said Mr Martin.
Power Ledger uses Blockchain technology to enable households and buildings to trade excess solar power peer-to-peer to make power more distributed and sustainable for consumers.
The Power Ledger system tracks the generation and consumption of all trading participants and settles energy trades on pre-determined terms and conditions in near real time.