ISGF to launch the first of its kind project in South Asia on Peer to Peer (P2P) Trading of Rooftop Solar Power on Blockchain in Lucknow, Uttar Pradesh

New Delhi [India], December 17 (ANI/PRNewswire): Uttar Pradesh is all set to launch India and South Asia's first blockchain-enabled Peer to Peer (P2P) Trading of Rooftop Solar Power on 17 December 2020.
Uttar Pradesh Power Corporation (UPPCL), Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) will host the first of its kind pilot project involving energy generated from solar rooftop systems installed on buildings in Lucknow.
The project is being implemented by India Smart Grid Forum (ISGF) along with blockchain technology partner Power Ledger, Australia and Abajyon Consulting who supported the integration of blockchain platform with UPPCL's billing system.
The P2P trading platform is set for the launch with its first 12 participants comprising of 9 customers with rooftop solar (prosumers) and 3 customers without rooftop solar (net buyers), identified in consultation with MVVNL. The customers have been provided training through online training sessions by ISGF on various functionalities of the blockchain platform and the procedure that need to be followed to participate in the trading activities.
This being a pilot project, the participants will engage in the mock trading (no money transactions) for next 3 months. During this period, ISGF will try different trading logics and test scenario is win-win for all stakeholders including the utility. 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.
"This pilot project will demonstrate the feasibility of rooftop solar energy trading through smart contracts on the blockchain platform between prosumers with their neighbouring households. Power Ledger's platform integrates the transaction data from the smart meters to enable households to set prices, track energy trading in real time and enable the settlement of surplus solar energy transactions," said ISGF President, Reji Kumar Pillai.
For more details about project, please write to ISGF at contactus@indiasmartgrid.org.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)