Today state-owned Thai energy conglomerate PTT announced plans to develop a blockchain-based renewables marketplace in collaboration with
Energy Web Foundation (EWF), an energy blockchain nonprofit. The launch of the full PTT Renewables Marketplace Platform is set for May 2020.
The application will be compliant with International REC Standard (I-REC) and will be built on the Energy Web Chain using the open-source toolkits provided by EWF. Multinational PTT said it sees strong demand for locally sourced renewable energy certificate (REC) options in Thailand and neighboring countries. In 2018, Thailand generated about 28 million MWh of clean electricity, but only 0.16 million I-RECs (MWh) were issued.
That compares to a global market of 1.2 billion certificates traded in 2018, with the U.S. and Europe accounting for the bulk of it.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
