Last week, the Energy Web Foundation (EWF) and Japanese utility Minna Denryoku (Minden) announced they completed a joint test of blockchain for renewables markets.
Founded in 2011, just two months after the Fukushima disaster, Minden aims to decentralize energy distribution centered around renewables such as solar and wind power. In late 2018, the firm launched its Enection 2.0 platform powered by NEM Blockchain, to connect buyers and sellers and pair electricity sales with energy attribute certificates (EACs) for green energy. The goal is to make electricity available from alternative sources.
After the 2011 earthquake and tsunami radically reduced Japan’s internal sources of electricity, the appetite for distributed energy sources increased. In 2016, the country deregulated its energy market — both generation and retail — to bolster alternate sources of power.
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