Australia based startup firm, Power Ledger which explores the energy tech niche, is gearing up to proliferate its business in Southeast Asia as the region is likely to mark its presence as the fourth-largest consumer of energy in the global sphere by 2030.
In the starting phase of September 2019, Thailand organized the 37th edition of the highly-acknowledged Asean Ministers on Energy Meeting and Associated Meetings. Power Ledger was seen as an active participant in the renewable energy conference in the event.
One of the prominent advisors to Power Ledger, Maria Atkinson, pointed out the company’s remarkable presence in the worldwide market space including established countries like Thailand, Japan, Europe, Australia, and the US.
“We have partnered with well-known energy companies to improve the efficiency and transparency of energy markets globally,” said Ms. Atkinson. She further added that “By 2030, renewable energy resources will be more important than ever.”
According to Atkinson, the energy requirements of the South-East region are set to surge by two-third in the next 20 years span. The fast diminishing domestic resources and global environmental concerns are compelling governments and markets to look for alternative energy sources. The lady clarified that efficient renewable sources can serve as more economical and environment-friendly options.
Ms. Atkinson stated that an International Energy Agency has resolved that a US$2.7-trillion investment is required to satisfy the area’s growing requirements for energy supply, transmission, and efficiency.
In Thailand, Power Ledger has collaborated with a Thai renewable energy firm, BCPG to indulge in advanced decentralized energy trading solution. Ms. Atkinson revealed that
BCPG initially reached out to Power Ledger as part of their search for innovative energy solutions, particularly blockchain-enabled methods of energy trading. From there, a new peer-to-peer energy trading platform was launched at T77 precinct, which comprises a shopping centre, international school, serviced apartments, and a dental hospital.
She further stated that “As part of a trial, Power Ledger’s technology will track, trade and settle the electricity generated from solar panels to facilitate peer-to-peer energy trade at T77.”
The project will aim to deliver power with low-cost, low-carbon, and adaptable to the effects of weather changes. “The government is backing BCPG’s efforts as a clean energy provider. The Thai regulatory climate has continued to improve since the start of Power Ledger’s trial,” she added.
In July, TDED, a joint venture of BCPG and PEA Encom International, announced its collaboration with BCPG on the T77 project.
While discussing the benefits of blockchain technology in the energy sector, Ms. Atkinson stated: “Digital technology will reimagine the entire energy system — how power is distributed, managed, traded, used and governed.” She concluded saying that “we believe the digital decentralised ledger will unlock many opportunities for the sector, particularly renewable energy”