Peer-to-Peer Renewable Energy Trading Now in Thailand

Power Ledger (a company based in Australia) is now a partner with Thai Digital Energy Development (TDED), as announced on May 25. The aim of the partnership is to come up with a blockchain-based digital energy platform in Thailand, such that it will foster environmental commodity and peer-to-peer (P2P) energy trading, towards the acceleration of adoption of renewable energy sources.

This is a great development as the country is looking forward to the generation of 25 percent of its electricity from renewables by the year 2037. The features of power Ledger’s blockchain-based transactive energy solutions are peer-to-peer energy trading, virtual power plants, carbon credits trading, as well as renewable energy certificates (REC)

The new partnership will involve the use of blockchain technology for the management of four BCPG clean power projects, which include energy and carbon management at Chiang Mai University’s 12MW Smart Campus.

TDED is a joint public/private sector venture between the Thai energy authorities and green energy specialists BCPG. Joint operations between Power Ledger and BCPG started in 2018, when a similar P2P energy trading trial was introduced in a central area in Bangkok.

While speaking with Cointelegraph, Vinod Tiwari of Power Ledger said the trial revealed the possible use of market-based blockchain-enabled energy sharing and trading as an incentive for the acceleration of rooftop solar technology’s deployment.

According to Tiwari, Thailand will be able to attain its aim of running on 25 percent renewable energy by 2037 through its focus on renewable power investment and Power Ledger’s technology. Tiwari noted that the platform is a system and innovative enabler in transforming energy markets from centralized to hybrid.

Power Ledger is also interested in using the TDED partnership framework to close in on other energy market participants with possible interest in using its blockchain energy trading technology in Thailand. TraceX REC trading platform developed by the firm will be available in the country this year, offering a marketplace for generators and buyers of carbon credits and RECs. 

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