The state-owned Industrial Estate Authority of Thailand (IEAT) and Electricity Generating Authority of Thailand (EGAT) have signed an agreement with Pinthong Industrial Park in which all parties will be collaborating on a project to use blockchain in power generation.
The Bangkok Post reported that the project will be used to generate power for industrial estates in the eastern province of Chonburi. Chonburi, situated in the country’s Eastern Economic Corridor, is a prime location for energy generation as it is home to many industrial estates with high potential for development.
EGAT Senior Assistant Governor Patrapong Thepa disclosed that a joint working team representing all three signatories is preparing the necessary details to take the project to the next stage, where the system will be designed and developed. He added that the project is expected to be initiated in December 2019.
Through the agreement, EGAT has demonstrated its determination to improve its energy management practices as well as embrace new technology, such as blockchain, that can be used to monitor and manage power generation and consumption more efficiently. Blockchain offers greater transparency and accountability over legacy technologies when it comes to data management for the energy industry.
The energy authority said the overall budget for the project has yet to be confirmed, as the three participating organizations must first agree on the design for the energy generation system.
Other energy companies listed in the Securities and Exchange Commission of Thailand (SEC), namely Banpu and BCPG, have also announced their interest in developing smart grids for power management.
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