Today, blockchain firm Power Ledger announced a partnership with the U.S.-based Midwest Renewable Energy Tracking System (M-RETS) to launch a Renewable Energy Certificate (REC) marketplace in the country.
M-RETS is a web-based REC registry used by power generators, utilities, marketers, and qualified reporting entities. The centralized solution tracks RECs and facilitates transactions by issuing a unique, traceable digital certificate for every 1 MWh of renewable energy generated by its affiliates. The solution prevents the double counting of RECs, an issue many are trying to address.
Meanwhile, Power Ledger has an existing partnership with renewables firm Clearway Energy Group to build a REC trading platform. The company said this project with M-RETS is the first phase of the deal with Clearway. So while M-RETS will do the track and trace, Power Ledger will provide the marketplace and log transactions.
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