Power Ledger Strikes Deal to Roll Out Blockchain in South Australia
Helen Partz's original article for cointelegraph.com reduced by 42%
Australian blockchain energy firm Power Ledger has partnered with a local energy retailer to roll out its technology in South Australia. Power Ledger's blockchain-based software will allow Australians to pool their excess solar and battery storage to a Virtual Power Plant for greater control and management over their energy. Commercial deal with Australian electricity wholesaler PowerclubWithin the partnership, Power Ledger will be integrating its blockchain-based energy trading application Virtual Power Plant to a commercial offering of Australian electricity wholesaler Powerclub, the firm announced Nov.
7.Similarly to other recent initiatives by Power Ledger, the new project intends to provide users with access to wholesale electricity prices and reduce annual energy costs. Specifically, Powerclub members will be able to pool their net solar and battery storage to act as a VPP, a cloud-based distributed power plant that is designed to enhance power generation and provide energy trading. Power Ledger's technology aims to decentralize and democratize energy industryThe technology is expected to enable Australians to gain control over when they use energy and how much they pay, thus avoiding additional hidden costs and charges by electricity retailers, as the press release notes.
In the press release, Power Ledger said that the new commercial deal is the first large-scale roll out of its energy trading technology. The deal follows on from Power Ledger's first energy trading pilots in Western Australia launched in September 2019.
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