Energy News

RIDDLE&CODE in blockchain joint venture with Wien Energie for renewable energy

solar renewable energy

Today Austria’s RIDDLE&CODE Energy Solutions and Wien Energie announced the creation of a joint venture. The objective is to accelerate global decarbonization by expanding their existing joint solution globally.

In June, we reported on MyPower, a blockchain platform used by the two companies to tokenize solar panels or photovoltaic (PV) assets. This allows customers to invest in solar panel installations on a fractional basis and receive kilowatt-hour tokens based on the amount of power generated. These tokens can be redeemed through energy bill payments or grocery purchases.

They intend to deploy the same solution elsewhere using Wien Energie’s experience in the energy sector and RIDDLE&CODE’s tokenization skills.

“The partnership with Wien Energie is in line with RIDDLE&CODE’s growth strategy, centred around tokenization of physical assets, and will build on the company’s existing and long-dated footprint in the energy sector,” said Alexander Koppel, CEO of RIDDLE&CODE.

MyPower is being extended, including by offering tokenized green power purchase agreements. RIDDLE&CODE has a mobility division and a track record in the automotive sector, such as helping Daimler develop a hardware car wallet solution. It will use this expertise to expand MyPower applications to electric vehicle charging stations showing that the energy source is green, providing a “Green Mobility Chain of Trust”.

Other organizations exploring similar technologies are Energy Web and ENGIE Energy Access, working together on DeFi crowdfunded loans for energy installations in Africa. Sun Exchange in South Africa operates a buy-to-lease solar panel marketplace that provides peer-to-peer funding using blockchain.