Solar power purchase agreement facilitates blockchain for energy markets

Perdaman Advanced Energy has played a part in enabling the launch of a world-first blockchain system for energy generation and consumption management.

PAE sold a 250kW solar power purchase agreement to Perth-based tech company Power Ledger, which has developed software to buy and sell energy in real time.

Using blockchain technology, Power Ledger’s PPA Vision software allows generators to track and show how much energy is produced, when and by what means.

Perdaman Chairman Vikas Rambal said the company welcomed the opportunity to provide the solar power purchase agreement to Power Ledger as it aligned with both companies’ visions of promoting the generation of renewable energy.

“Our objective and that of Power Ledger is to fast-track the economy’s transition to a more efficient, distributed clean energy market,” Mr Rambal said.

“The PPA Vision solution allows renewable energy generators, ranging from homeowners with a few solar panels, to large commercial and industrial sites, to track, monitor and transact any excess to their energy consumption needs.

“It ensures greater transparency and efficiency for energy markets while making a compelling economic case for the move to renewable energy on a large scale.”

Power Ledger co-founder and Executive Chairman Jemma Green said PPA Vision was essential for energy retailers and governments around the world as they transitioned to smarter energy solutions.

“Our trials presented a need for a product which enabled autonomous management and settlement of energy generation and consumption,” Dr Green said.

“Power Ledger’s technology prevents loss of revenue and overcharging simultaneously.”

Dr Green said the solution could be customised to suit the regulatory requirements of governments, local councils and businesses.

Perdaman Advanced Energy is a renewable energy developer and solution provider to organisations across governments, industrial and commercial sectors. The Company provides a complete turn-key service, with energy consulting, project development and clean energy asset management.