Power Ledger has announced it will launch a pilot trial of its blockchain-enabled renewable energy trading platform, partnering with Malaysia's Sustainable Energy Development Authority (SEDA).
Power Ledger has announced it will launch a pilot trial of its blockchain-enabled renewable energy trading platform in Malaysia, partnering with the country's Sustainable Energy Development Authority (SEDA).
The trial, which is expected to begin at the end of the year, will run for eight months and will use the company's peer-to-peer trading platform to allow users to choose whether they use fossil fuels or renewable energy sources.
The business hopes to demonstrate its platform's ability to effectively trade surplus energy, with SEDA in turn hoping to increase Malaysia's market for solar panels and advance the deployment of distributed energy resources.
"The trial with SEDA provides a real opportunity to tailor our platform to suit the needs of the Malaysian energy market."
Power Ledger's technology is already used in Australia, the US, Japan and Thailand.
With more than 4 million buildings with rooftop solar potential in Malaysia, SEDA chief executive Sanjayan Velautham said the partnership with Power Ledger would give the company better insights into price models and consumer preferences on renewable energies.
"SEDA’s partnership with Power Ledger is a great opportunity to testbed energy trading among prosumers and consumers using blockchain technology and understand surplus energy trading in Malaysia’s energy marketplace,” he said.