UTE Joins Energy Web to Transform Energy Sector with Blockchain

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In its efforts to become a global leader in digital innovation and rapid energy-sector decarbonization, Uruguay’s grid operator Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE) has announced its partnership with Energy Web (EW).

The partnership will allow UTE to leverage the blockchain-based solutions offered by Energy Web, including the Energy Web Decentralized Operating System (EW-DOS), the Energy Web Chain as well as the EW Origin and EW Flex software development tools to continue its innovations in electricity generation. With this partnership, UTE will officially become a member of the Energy Web and will be able to host an EW Chain validator node.

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Uruguay’s energy sector has been consistent in bringing innovations in energy transformation. Earlier the country used to rely on oil but later moved toward hydro, wind, and photovoltaic renewable energy generation options to meet the electrification of energy demand. And that is why Uruguay’s electricity grids currently operate at 98% renewable energy.

UTE is a public energy sector company in Uruguay that is committed to make electric energy affordable for people through electricity generation, transmission and distribution, and commercialization. It exports energy to its neighboring countries, including Argentina and Brazil. Besides this, UTE’s vision is to provide quality service and expand renewable energy generation plants across the country to meet the growth of the local energy market.

Energy Web is a non-profit that enables its members to create low-carbon electricity systems by leveraging its blockchain and decentralized technologies.

According to Walter Kok, CEO of Energy Web, this collaboration holds a lot of potentials where the Energy Web will support UTE in decarbonizing the electricity system by leveraging Energy Web’s decentralized blockchain technology. UTE will also be able to leverage the benefits of the collaboration for:

  1. Developing innovative solutions through EW-DOS to stabilize the power grid.
  2. Making the most out of the investments made in electric motor vehicles.
  3. Providing amplified traceability and transparency for energy services.
  4. Releasing new enterprise products to meet consumers’ needs.
  5. Providing smart meters to half of its 1.5M consumers by 2021.

UTE has a specialized Environmental Management unit and it plans to advance its electricity coverage of the national territory. With this collaboration, UTE is aiming at getting a foothold in the energy sector through digital innovation with the support of Energy Web’s blockchain and decentralized technology.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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