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P2P Blockchain Power Trading Arrives In India

Press Release

A power distribution company based in New Delhi will, for the first time, bring blockchain trading of solar energy to India. The project will run on a blockchain platform built by Power Ledger. BSES Rajdhani Power Limited (BRPL) Company recently released news of the partnership with Power Ledger, saying that it plans to run a pilot project in one of New Delhi’s suburbs to test the platform. The project is set to enable peer-to-peer solar energy trading and will be implemented in gated communities whose houses are fitted with rooftop solar power systems. The pilot will handle 5-6 megawatts of power.

The city already boasts a robust solar energy policy that enables homeowners and broader communities to obtain renewable energy through panels on their rooftops. Through net metering, any excess power generated from these systems is acquired and fed to the grid. The project by BRPL, however, seeks a different route. The P2P platform will enable the energy generated in these homes to be sold within other communities directly, eliminating the need to channel the extra power through the grid.

In a press release by the company, one of the partially private utility providers in India, the platform would enable customers to directly buy power at cheaper rates compared to the energy sold from the grid. The project will benefit the company by providing sufficient power during peak hours and improve the company’s supply efficiency. BRPL plans to expand its collaboration with the leading blockchain company.

According to the company’s CEO, Amal Sinha, BRPL has already built a comprehensive infrastructure to support the solar project and that the partnership with Power Ledger will aid the company to maximize on its existing capabilities. If the trial is successful, he added, the company will expand the pilot program to other products available, including blockchain solutions for Group Net Metering, Virtual Power Plants, EV Charging, and other applications.

Representatives at Power Ledger say that the P2P system will use the existing hardware without any need for additional installations. To make the trading possible, Power Ledger will include an extra transactional layer to the current process. The system uses real-time data from meters on-site to transact real-time. The company is already offering blockchain power trading solutions in several countries around the world, such as the United States, France, Malaysia, Japan, Australia, and Austria. Similar systems are already working in the UK and the US, where communities harvest surplus power for sale to companies and other cities competitively.

This post was originally published on Food and Beverage Herald

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