Indian energy company Tata Power DDL and India Smart Grid Forum (ISGF) are working with Power Ledger to test a blockchain-based platform for selling solar energy.
Tata Power DDL serves over 7 million residents of North Delhi. The firm is a joint venture between Indian energy giant Tata Power and the National Capital Territory of Delhi. ISGF is a think tank that includes many of India’s ministries, utilities, technology providers and researchers.
The pilot project aims to develop the renewable energy sector and electronic trading resources. At the peer-to-peer site, solar roof owners will be able to sell excess energy to various institutions.
The Power Ledger blockchain will provide transparency of settlements for transactions, and several trading algorithms will also be tested within the framework of the project. The system implies the creation of an “energy pool” between consumers and producers of electricity. Car charging stations and energy storage systems using batteries will be connected to the grid.
ISGF President Reji Kumar Pillai said the project will expand the regulator’s understanding of P2P trading. The blockchain-based platform will enable retail customers to buy electricity from any supplier, regardless of geographic location. Pillai believes that this project will bring dramatic changes to the country’s energy sector.
Power Ledger co-founder and chairman Jemma Green said blockchain energy trading will help the country develop the renewable energy sector. The Indian government intends to reach a solar development level of 100 GW, of which 40 GW should come from rooftop solar panels.
Power Ledger previously tested a solar energy trading project with the Indian state of Uttar Pradesh. In 2019, Power Ledger partners with Japanese energy companies Sharing Energy and Kansai Electric Power.