The state of Uttar Pradesh is all set to launch India and South Asia’s first blockchain-enabled peer-to-peer (P2P) trading of rooftop solar power on December 17. Uttar Pradesh Power Corporation (UPPCL), Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) will host this first-of-its-kind pilot project involving energy generated from solar rooftop systems installed on buildings in Lucknow.
On Thursday, the California-based enterprise technology services provider, Abjayon Inc. announced its partnership with the India Smart Grid Forum (ISGF) to support the integration of the blockchain platform with the Uttar Pradesh Power Corp. (UPPCL)’s billing system.
“This pilot project will demonstrate the feasibility of rooftop solar energy trading through smart contracts on the blockchain platform between prosumers with their neighbouring households. Power Ledger’s platform integrates the transaction data from the smart meters to enable households to set prices, track energy trading in real-time and enable the settlement of surplus solar energy transactions,” ISGF President, Reji Kumar Pillai observed on the occasion.
Rohit Pareek, Vice President, Abjayon Inc., averred, “Peer-to-peer energy trading is very much required particularly in counties like India, as it answers many questions and challenges of Indian distribution companies. Using this platform, prosumers can sell their excess energy to neighbours and also the energy doesn’t have to be transported from centrally located power plants, which drastically reduces electricity transmission costs for distribution companies making the whole business operations very much viable.”
The project is being implemented by the India Smart Grid Forum (ISGF) along with blockchain technology partner Power Ledger, Australia, and Abjayon Inc., who supported the integration of the blockchain platform with UPPCL’s billing system.