Green energy focused project Power Ledger (POWR) will soon launch a marketplace for trading and issuing Renewable Energy Certificates (REC), as announced in a blog post published on August 25.
Power Ledger has tightened its partnership with Thai energy company BPCG to expand its REC marketplace to Thailand and the ASEAN region
Power Ledger and BPCG first collaborated in August 2018 to bring a renewable energy trading trial to the T77 urban precinct in Bangkok
RECs are tradable, non-tangible energy commodities that certify that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource
Other organizations are also involved discussions, seeking to be a part of the effort
BPCG’s RECs can be issued and traded, with the Power Ledger blockchain storing the information
Executive Chairman and co-founder of Power Ledger Dr Jemma Green compared the REC process to buying a concert ticket and added that “organisations want to ensure any REC purchased hasn’t already been used, as well as settling that transaction quickly”
The team is also looking into bringing the technology to the United States