Power Ledger to Run Blockchain Energy Trade Trial in Malaysia

Power Ledger partners with Sustainable Energy Development Authority (SEDA) to run a P2P energy trading trial in Malaysia.

Power Ledger is currently running trials in Japan, Thailand, the US, and Australia.

Achieving for Renewable Energy

Malaysia is currently implementing new regulations in the electricity market. The trail becomes significant in this matter.

The country is aiming to achieve a renewable energy target of 20% by 2025 by ‘leveraging rooftop photovoltaic (PV) solar panels.’

The solar power generated by buildings can now sell their remaining energy to the Power Ledger trading platform.

Surplus Energy Trading in Malaysia

Malaysia have only 2% of the electricity coming from renewable resources.

Power Ledger Head of BD & Sales Vinod Tiwari shaking hands with SEDA CEO Dr Sanjayan Velautham, and Minister of Energy, Sci Yb Yeo Bee Yin. Image: Power Ledger

SEDA is hoping that the partnership can boost the solar PV market and deployment of distributed energy resources (DERs).

“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,” SEDA CEO Dr. Sanjayan Velautham.

‘Earlier this year, The Star Online reported that Malaysia can generate 1.4 times more electricity if all roofs in Peninsular Malaysia are fitted with solar panels.’

SEDA’s CEO adds:

“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.”

The eight-month trial is expected to start by the end of this year. Power Ledger is running two energy trading trials in Japan, one in the Kanto region and one in Osaka.

Source: ledgerinsights.com | powerledger.io

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