Blockchain Energy Start-Up Power Ledger signs P2P trial with SEDA in Malaysia2 min read
Oct. 9, 2019, Power Ledger has recently announced its partnership with Malaysia’s Sustainable Energy Development Authority (SEDA) in Putrajaya, Malaysia. The partnership will launch a pilot trial of its blockchain-backed energy trading platform.
The trial is expected to start before the end of 2019.
Power Ledger’s technology is the first of its kind in the South East Asia energy market. Furthermore, they already have active projects in Thailand, Japan, the United States, and Australia.
Demonstrating Power Ledger’s Tech
According to the agreement, Power Ledger will show the ability of its platform to trade surplus solar energy with SEDA. Moreover, both parties are hoping the trial will grow the country’s solar photovoltaic (PV) rooftop market and advance the deployment of Distributed Energy Resources (DER) in Malaysia.
Dr. Jemma Green Co-founder and Chairman of Power Ledger said:
“Power Ledger wants to work with regulators and electricity retailers to make energy markets more efficient. The trial with SEDA provides a real opportunity to tailor our platform to suit the needs of the Malaysian energy market.”
The Future of P2P Energy Trading in Malaysia
The ongoing electricity regulatory changes in Malaysia will also be important in the near future. In addition, surplus energy generated by buildings with solar photovoltaic (PV) can trade green energy between buyers and sellers, through the grid to empower consumers with electricity choices.
Dr. Jemma Green also commented on the state of renewable technology in Malaysia:
“Advancements in renewable energy technologies, coupled with regulatory changes, are starting to unlock new opportunities for the energy sector. Power Ledger has partnered with a number of renowned energy companies to improve the efficiency and transparency of energy markets globally.”
Power Ledger’s platform also enables consumers to choose options for which type of energies they want to purchase. They can either purchase clean, renewable energy or power from fossil fuels to promote and support the uptake of renewable energy in Malaysia.
SEDA CEO Ir. Dr. Sanjayan Velautham commented stated:
“Malaysia has more than four million buildings with rooftop solar potential in Peninsular Malaysia. The trial with Power Ledger will give SEDA better insights into consumer preferences and price model testing.”
Malaysia is also well established with huge solar energy potential. One of the key strategies to achieve its renewable energy target of 20 percent by 2025 will be to leverage the high rooftop space available.
P2P energy trading will make the grid relevant again through the front-of-the-meter (FTM) business opportunities available to solar PV, such as virtual net metering.
Ir. Dr. Sanjayan also added:
“We are working on a number of options to scale-up renewable energy growth in our Renewable Energy Transition Roadmap (RETR) 2035. SEDA’s partnership with Power Ledger is a great opportunity to testbed energy trading among prosumers and consumers using blockchain technology and understand surplus energy trading in Malaysia’s energy marketplace.”