Power Ledger, the world’s leading renewable energy trading platform, has announced its partnership with Kansai Electric Power Co. (KEPCO), one of the largest energy supply companies in Japan.
The objective of this union is to offer a more economical electricity supply service than the current one available and also allow users to monetize their investment in the platform since, through the Blockchain, they will be able to sell peer to peer the energy they do not need.
The project will begin with a small initial test that will last until March 2019 in which 10 homes in Osaka equipped with solar panels and energy storage capacity will be chosen to test this new technology.
Power Ledger will provide KEPCO with access to its platform and all the necessary resources to monitor the activity and as they say in the company, make them comfortable with these new technologies.
The Power Ledger system will provide KEPCO with the possibility to track the generation and consumption of energy of the participants and perform energy exchanges almost in real time.
Dave Martin (Power Ledger Co-founder and Managing Director) commented:
“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.”
“We’re excited to partner with KEPCO to implement our platform in Japan and bring Power Ledger one step closer to our goal of democratizing power”
Information about Kansai Electric Power Co .:
Headquartered in Osaka (Japan) and founded on May 1, 1951, KEPCO is a company that provides energy supply solutions in the areas of electric power, heat supply, telecommunications and gas supply. It has a capital of almost 500,000 million yen (3,760 million euros) and employs more than 21,000 employees.
Information about Power Ledger:
Power Ledger is a project based on the peer to peer trade of renewable energy, which through the use of the Blockchain provides an automated, auditable and transparent negotiation mechanism for users to decide who and at what price to sell their excess energy.
The Power Ledger platform has different applications such as:
- P2P Trading: Sale of excess energy.
- NEO- Retailer: Smart management of demand and supply with an almost instantaneous remuneration
- Micro transactions, electricity measurement and network management.
- Option to share renewable energy assets.
- Distributed market management.
- Wholesale market settlement.