Power Ledger, BCPG to build REC marketplace in SE Asia

Australian firm Power Ledger and Thai renewable energy group BCPG Pcl (BKK:BCPG) have teamed up to create a Renewable Energy Certificate (REC) marketplace in Southeast Asia.

The companies have already partnered in a project in Bangkok, as part of which BCPG deployed Power Ledger’s peer-to-peer (P2P) renewable energy trading platform to connect small solar power generators with consumers.

Now, BCPG wants to be able to sell RECs, based on meter readings derived from the P2P platform, in a regional marketplace. Power Ledger’s platform will be recording the issuing, trading and retiring of the certificates, eliminating the need for a broker. The solution will be based on the International REC Standard (I-REC) for energy attribute tracking.

“Power Ledger has built a platform that can process high-volume REC transactions, ultimately helping companies meet their greenhouse gas emissions targets,” said Jemma Green, Power Ledger co-founder and executive chairman Jemma Green.

The project supports the work of Thai Digital Energy Development (TDED), a joint venture between BCPG and the government’s PEA ENCOM International, to develop a blockchain-based digital energy business in Thailand. Several other organisations are interested in joining the BCPG-Power Ledger project and discussions are in progress.

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