On Wednesday, Tata Power Delhi Distribution and Australian tech firm Power Ledger launched the first live peer-to-peer solar energy trading project in Delhi.
The landmark project involving Tata Power-DDL is a joint venture between Tata Power and the Government of NCT of Delhi.
Moreover, it is a power distribution utility serving a population of 7 million in Delhi.
The aim is to use Power Ledger’s blockchain-enabled technology to facilitate peer-to-peer trading of electricity.
This is from over 2 MW of solar PV between multiple consumers in its license area of North Delhi.
Under the project, an end total of 150 sites include TPDDL’s locations along with their actual customers with solar generation.
Further, they will use the platform to sell their excess energy to other residential and commercial sites.
This will take place in a dynamic pricing environment, with benefit from P2P energy trades.
In fact, consumers have the option to select the seller they wish to buy electricity from.
For this, they will use Power Ledger’s blockchain audit trail of energy transactions which offers near-time settlement.
Also, it provides complete transparency throughout the entire process.
However, this project facilities expansion of an integrated ecosystem of grid-connected and distributed energy resources.
It includes EV Charging Stations and Battery Energy Storage Systems that can directly participate in the P2P marketplace.
Meanwhile, the comprehensive P2P trading trial will continue until June 2021 to test out several trading algorithms.
Besides this, it will also test dynamic trading, which creates an energy auction pool for prosumers and consumers.
Check all the recent news updates and share market updates