Power Ledger in Japanese partnership

Local blockchain company Power Ledger has announced a partnership with Japan-based solar panel provider Sharing Energy.

Under the partnership, Power Ledger’s blockchain technology will be used to track renewable energy consumption from 100 Sharing Energy customers across three Japanese regions.

In a statement, Power Ledger said the project is expected to grow from 100 customers to over 55,000 by the end of 2020.

Power Ledger is currently working with Japans’s biggest privately-owned electricity retailer, Kansai Electric Power Company, to develop a virtual power plant model to prevent excess solar generation.

Power Ledger co-founder Jemma Green said the company is continuing to make strides in democratizing energy across the globe.

“This partnership is an exciting example of how our blockchain technology can make visions of implementing scalable, renewable energy solutions a reality for partners and communities worldwide,” Ms Green said.

In September 2017, Power Ledger announced launched Australia’s first initial coin offering, with its tradable tokens debuting at 11 cents, and reaching a high of $1.80 in January last year.

They currently trade at around 10.4 cents each.