ACCIONA Energía, a subsidiary of Spanish renewable energy giant ACCIONA, has been building a platform to allow its clients to trace electricity generation in real-time using from any location using blockchain technology.
Beginning the initial phases of the project called GREENCHAIN, ACCIONA worked with FlexiDAO, which specializes in digital energy services-focused software for electric power companies, to build a commercial demonstrator to ensure the traceability of renewable generation from five wind and hydro facilities in Spain to its supply to four corporate clients in Portugal. The demonstrator uses a blockchain platform for the electric power sector called Energy Web Blockchain.
According to ACCIONA, the advantages of the system lay in the simplicity of its integration with data system: ease of access, scalability and the complete security and privacy of data that blockchain ensures.
“Tracing the renewable origin of energy is an ever-increasing demand, associated with the growth of the corporate contracting market for green energy, and blockchain technology can facilitate this service considerably to clients in any part of the world. We are very pleased to take this first step along a route that will surely set the trend over the next few years”, Belén Linares, the director of innovation of ACCIONA Energía, said in a statement.
The move made ACCIONA Energía the first company to trace renewable energy using blockchain in Spain and Portugal.
ACCIONA plans to implement the system in new areas, starting with the most suitable markets for this kind of service – those that do not have consolidated renewable energy certification systems, as is the case in several Latin American countries such as Mexico and Chile.