Power Ledger has partnered with Malaysia’s SEDA to test its blockchain-backed energy platform.
Power Ledger is an energy trading platform and is enabled with the blockchain technology. SEDA is the Sustainable Energy Development Authority and is based in Malaysia. Both of these have signed an agreement with each other to benefit from each other.
The energy platform Power Ledger announced it on 9th Oct saying that it wants to start a pilot trial of its energy platform by signing an agreement with SEDA.
The chairman and co-founder of Power Ledger, Dr. Jemma Green says that this partnership will prove beneficial for both Power Ledger and SEDA and by working together they will make the energy markets more efficient.
As he says:
Power Ledger wants to work with regulators and electricity retailers to make energy markets more efficient. The trial with SEDA provides a real opportunity to tailor our platform to suit the needs of the Malaysian energy market.
Aim of the Partnership
The main purpose of this partnership is to test the capability of the trading platform of the Power Ledger for trading solar energy.
And SEDA, with the help of the Power Ledger trading platform, will try to update its DERs (Distributed Energy Resources) in the country and also to develop its Photovoltaic (PV) rooftop market.
Sanjayan Velautham, CEO of SEDA says that this partnership is an opportunity for SEDA and with the help of this platform they can easily know about the consumers’ preferences as the energy trading platform will give consumers an option to choose between fossil fuels and renewable energy resources.
As he says:
Malaysia has more than four million buildings with rooftop solar potential in Peninsular Malaysia. The trial with Power Ledger will give SEDA better insights into consumer preferences and price model testing.
This pilot trial will start at the end of the year 2019 and is expected to continue for almost eight-month.
It is a good step initiated by the Power Ledger to make a trial of its trading platform. Apart from Malaysia, the company is also testing its technology in some other countries like Thailand, Japan, the United States, and Australia.