Power Ledger has announced a partnership with renewable energy developer, owner, and operator Clearway Energy Group (“Clearway”) to develop a platform to trade Renewable Energy Certificates (RECs) in the United States. In at least 29 U.S. states, electricity companies are required to supply a portion of their electricity from renewable sources each year. Many companies purchase RECs as a way of meeting their mandatory clean energy quotas. RECs are tradable commodities that represent proof that one megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource. “Power Ledger is applying our proprietary technology to the evolving market for trading digital energy commodities. This is a market that’s often criticized for being opaque, but blockchain technology will make it more efficient, secure, and provide greater transparency,” said Power Ledger executive chairman and co-founder Dr. Jemma Green. “We will be able to track RECs on a blockchain ledger system from the point of creation, sale and transfer to the buyer, through to the point of retirement of the certificate and the annual sustainability audit.” Power Ledger’s partnership with Clearway will ensure a swift entry into the environmental commodity trading market in the U.S. due to Clearway’s established footprint of renewable… continue reading
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Source: CTRM Center