SP Group, the largest electricity company in Singapore, has launched a blockchain-based digital market for green energy certificates.
The platform allows national and international bodies of all sizes to exchange renewable energy. The use of blockchain technology will allow buyers and sellers to find quick coverage with their counterparts, all in a secure and fully traceable environment.
The aim of this innovation is to be able to encourage the production of renewable energy and to integrate it better into the energy structure of the island.
Among the first operators active on the platform are the DBS bank, one of the largest banks in Southeast Asia and CDL, a real estate development company, while among the suppliers are the solar energy producers C & I and LYS Energy Solutions.
Raju Shukla of Cleantech Asia said: “By having our 120 solar sites in Asia on board this platform, we allow consumers, who to generate their own renewable energy, another reliable solution to achieve their clean energy goals“.
Lionel Steinitz, CEO of LYS Energy, confirmed this positive vision: “We are delighted today to be partnering with SP Group to support this significant milestone, as a worldwide debut of ensuring interoperability towards smart grid success while helping companies to achieve their sustainability targets“.