Today, Australian blockchain firm
Power Ledger announced an extension of its trial with Japan’s Kansai Electric Power Company (KEPCO) to create and track renewable energy certificates (RECs) along with solar energy trading.
The two firms previously completed a peer to peer (P2P) energy trading trial for surplus power in Osaka, with automatic settlements using cryptocurrency. Under the new agreement, KEPCO will use Power Ledger’s blockchain platform to create, track, trade and provide for the settlement of non-fossil value (NFV) certificates (a type of REC) generated by rooftop solar systems.
In 2018, Japan started issuing NFVs as proof that electricity came from a renewable energy source. The NFVs can be used by enterprise electricity consumers to comply with
RE100 standard, a global initiative for corporates committed to using 100% renewable electricity.
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