Spain’s Energy Operator to Extend Blockchain Traceability

Spain based energy company ACCIONA will extend blockchain traceability to its renewable generation globally, according to a press release published by the company.

ACCIONA Energia has signed an agreement with the Barcelona-based Startup FlexiDAO after a process of selection through the open innovation program I’MNOVATION. The joint venture will develop the initial phases of the GREENCHAIN project.

FlexiDAO is a software tools supplier for electric power companies for digital energy services. “FlexiDAO was one of the start-ups selected by ACCIONA in the second edition of its open innovation programme I’MNOVATION last June, in which 231 companies from 16 countries were assessed,” said the press release.

Following the FlexiDAO and ACCIONA Energia collaboration, the company has become the first company to trade renewable energy through blockchain in Spain and Portugal. “A specialised blockchain platform for the electric power sector called Energy Web Blockchain has been used for this demonstrator.”

The venture will start working in Latin America, where ACCIONA has a strong presence, such as Mexico and Chile. “The next step is to continue implementation in new areas, starting with the most suitable markets for this kind of service, i.e. those that do not have consolidated renewable energy certification systems.”

“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,” says Belén Linares, Director of Innovation of ACCIONA Energía.

“We are very pleased to take this first step along a route that will surely set the trend over the next few years.”

Spain joins Germany in Blockchain for energy

Previously in November, German tech giant Siemens joined a blockchain based platform to promote decentralised technologies in the energy sector. “Siemens is proactively shaping the future of blockchain-based, transactive energy applications,” said the press release.

Two energy divisions of Siemens, Energy Management and Power Generation Services, joined the Energy Web Foundation, a non-profit organisation that aims to “accelerate the commercial deployment of blockchain technology in the energy sector.”

It is not the first blockchain venture for Siemens as the German tech company has already projects using blockchain “to help its customers develop new forms of energy or offers solutions and services for optimised control of energy generation and consumption.”

Spain and Germany are joining other countries that are blockchain supporters on the energy field. Countries such as the United States, Singapore, Switzerland, Japan and China among others.

With the new Acciona venture, now Chile, Mexico and other countries will be blockchain technology being developed in their neighbourhoods.

South Korea enters the blockchain energy wave

Last week, the South Korean government said it would spend over 4 billion Korean won to build a blockchain based virtual power plant in Busan, a southeast city in the peninsula.

A Virtual Power Plant, VPP, is a cloud-based distributed power plant that put capacities of multiple energy resources to work together in order to make power generation more efficient.