Thai Firms Launch Blockchain-based Energy Transaction Platform

Asia Blockchain Review
July 9, 2019

Blockchain is playing a larger role in the energy sector. In the latest development for the industry, companies in Thailand are optimizing their customers’ solar roof systems by using the decentralized ledger technology to enable power trading.

Sun Share Project Manages Solar Roofs with Blockchain

Two companies in Thailand, SC Asset and BCPG, have launched the Sun Share Project a collaboration to use blockchain in managing solar roof systems for household consumption and electricity transactions.

SC Asset, a major domestic property developer, previously signed a Memorandum of Understanding (MoU) with BCPG, a key player in the Asia-Pacific’s renewable energy industry. As per the MoU, a blockchain platform will be employed for electricity transactions between customers. 

The project is being piloted at The Neighbourhood Bangkadi, an area being developed by SC Asset about 30 km north of central Bangkok.

Blockchain Platform Enables Cost Savings and Sustainability

Nuttaphong Kunakornwong, CEO of SC Asset, revealed that the project enables residents to buy and sell electricity automatically via the blockchain platform, which does not require any installation fee.

“With blockchain system operating the microgrid, customers can generate electricity from their own solar roofs and also buy electricity at a lower price,” Nuttaphong said.

Meanwhile, Bandit Saphianchai, President of BCPG, said the project will promote a higher quality of living for residents.

“BCPG will design, install and oversee the overall power trading system, starting from the third quarter of this year. BCPG also plans to expand the capacity to meet increasing demand for clean energy from other projects in the future,” Bandit said.

The SC Asset CEO added the project offers a greener way to consume energy. “Electricity will not be wasted or lost, creating a network of green consumers in line with an effort to build low-cost, low-carbon energy for a sustainable future,” Nuttaphong said.

Source: http://www.greennetworkthailand.com

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