First P2P Solar Power Trading In South Asia Launched By UPPCL

Uttar Pradesh has become the first state to launch blockchain-enabled solar power trading in India and South Asia in a project led by India Smart Grid Forum (ISGF) with Australian technology company Power Ledger.

Uttar Pradesh Power Corporation Limited (UPPCL) and the subsidiary Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) will host a pilot project involving peer-to-peer (P2P) trading of energy generated from solar rooftop systems installed on buildings in Lucknow.

• The project is implemented by ISGF and Power Ledger’s energy trading software. 
• Abjayon Inc has helped the integration of the blockchain platform with UPPCL’s billing system. Abjayon Inc is a California based enterprise technology services provider. 

The P2P trading platform has launched with 12 participants comprising nine customers with rooftop solar (prosumers) and three customers without rooftop solar (net buyers), identified in consultation with MVVNL.

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As per Reji Kumar Pillai, ISGF President, the pilot project will demonstrate the feasibility of rooftop solar energy trading through smart contracts on the blockchain platform between prosumers with their neighboring households.

The participants of the pilot project are provided training through online sessions by ISGF on various functionalities of the blockchain platform.

In the Inaugural Address Raj Pratap Singh, Chairman, UPERC said that this is the first-of-its-kind project of blockchain for energy trading in India. This blockchain project will help them in becoming the pioneer to provide leadership and opportunities for P2P trading on blockchain in the country. 

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• In the initial phase, participants will engage in simulated trading for three months while ISGF tests different trading logics and market settings. 
• The results and recommendations of the pilot project will be submitted to UPPCL and UPERC for consideration for framing regulations to promote P2P trading of rooftop solar power amongst prosumers and consumers in the state of UP.

Power Ledger has more than 20 projects in 10 countries, including several in the ASEAN region where it recently announced a project to create a Renewable Energy Certificate marketplace in Thailand and the broader Southeast Asian region.