Spanish energy company Iberdrola has completed the project, which allows using blockchain technology to prove that energy is supplied and consumed, 100% produced from renewable sources.
One of the largest operators of renewable energy has implemented a project jointly with the Bank Kutxabank of the Autonomous province of Basque Country and its subsidiary CajaSur Cordoba. Blockchain-the solution is based on a scalable platform, open-source Web Energy Foundation.
In the pilot project, Iberdrola controlled via the DLT platform the distribution of electricity from two wind farms in the Asturias and Guadalajara, as well as with hydroelectric plants in Galicia. The company found that the blockchain allows to establish a hierarchy of manufacturers, to automate the process of distribution and 100% verify the origins of energy. In addition, DLT-decision eliminates intermediaries, through the application of smart contracts, reduces costs and promotes privacy.
In December a similar blockchain-the project began to implement another Spanish operator of renewable energy — ACCIONA Energía. Earlier in Singapore and Malaysia started to use the technology of distributed registry to confirm the origin “green energy”, and in Japan and Australia — for its distribution.