Acciona Energía, a Spanish energy renewable company, is implementing blockchain technology to trace renewable energy in real time from any part of the world, according to a report published on December 17.
Acciona Energía is a subsidiary of Spanish conglomerate group, ACCIONA, a company that is focused on developing energy products such as small hydro, biomass, solar energy and thermal energy.
The company which has about 400 facilities globally, has collaborated with FlexiDAO, a Barcelona based-software provider, offering software tools to electric power companies for digital energy services.
For the initial stages of the project, which is titled GREENCHAIN, FlexiDAO will be working with Acciona for the creation of a commercial demonstrator, utilizing a blockchain platform called Energy Web Blockchain. The platform traces electricity generation from five facilities running on wind and hydropower facilities in Spain and is then supplied to four corporate clients located in Portugal.
The next step of the project is to expand the technology in new areas that do not have consolidated renewable energy certification systems, such as Mexico and Chile, where Acciona has a strong presence.
Director of Innovation of Acciona Energía, Belén Linares, said,
“Tracing the renewable origin of energy is an ever-increasing demand, associated with the growth of the corporate contracting market for green energy, and blockchain technology can facilitate this service considerably to clients in any part of the world. We are very pleased to take this first step along a route that will surely set the trend over the next few years”,
Co-founder and CEO of FlexiDAO, Simone Accroneo, said that their partnership with Acciona is demonstrating that the traceability of renewable energy is currently a viable proposition that generates real value for the customers.
Talking about the successful collaboration, Accoreno said, “Together with ACCIONA we want to be pioneers in showing that this blockchain-based system is commercially viable on a large scale.”
Energy companies have been continually executing blockchain technologies for their supply networks and operations. Recently, the South Korean government declared that it would be spending 4 billion won for setting up a blockchain enabled Virtual Power Plant (VPP), in Busan. VPP is a cloud-based distributed power plant that combines the capacities of numerous energy resources to hone power generation.
In Malaysia, the government has initiated the adoption of blockchain for renewable energy, as it is looking to bring in new players into the market, competing against Tenaga Nasional Berhad, the only utility provider in the country.
Japan’s four companies; Kansai Electric Power Company, Nihon Unisys, Mitsubishi UFJ Bank, and the University of Tokyo, are jointly conducting research for monitoring electricity distribution through blockchain technology.