Thai state-owned oil and fuel firm PTT and blockchain vitality nonprofit Vitality Internet Basis (EWF) are collectively constructing a blockchain-based renewables platform.
In response to a press launch shared with Cointelegraph on Sept. 11, the events are growing a regional resolution based mostly on the Vitality Internet Chain. The brand new product may even be compliant with the Worldwide Renewable Vitality Certificates (I-REC) Normal, which certifies renewable vitality sources.
I-REC certificates demand
Vitality producers can apply for I-REC monitoring certificates from an issuer appointed by a authorities or commerce group. As soon as the tickets are submitted to a central registry, vitality suppliers and purchasers can show the renewable origin of vitality by redeeming the certificates.
Final 12 months, Thailand reportedly produced about 28 million megawatt hours (MWh) of unpolluted electrical energy, whereas simply 0.16 million I-REC MWhs had been issued. EWF CEO Jesse Morris mentioned that the blockchain-based platform will assist to attach provide and demand for the certificates.
Worawat Pitayasiri, the senior govt vice…