Development programme United Nations (UNDP) in partnership with the South African blockchain startup Sun Exchange is implementing a project to bring solar electricity to one of the largest universities in Moldova.

Sun Exchange is a market where cryptocurrency is possible to purchase solar panels for installation at businesses or educational institutions. In exchange of a token is used SolarCoin issued blockchain startup ElectriCChain.

If the plan is implemented, the Technical University of Moldova this summer will be fully provided with electricity by solar panels installed on its roofs. The total capacity of solar power plant, which Exchange Sun will give in rent to the University shall be 1 MW.

Sun Exchange said that customers of solar panels will also be able to pay for them in euros and BTC.

Program Manager, UNDP Moldova Dumitru Vasilescu (Vasilescu Dumitru) explained that the idea of the project is to find new sources of funding, using crowdfunding.

“One of the biggest obstacles for countries investing in renewable energy is the lack of finances, because you often have to wait 10 to 15 years before you will receive income from their investments,” he said.

As soon as the University will begin to produce electricity, the owners of solar panels will earn tokens SolarCoin is based about 4% of the investment, said Vasilescu.

Implemented program could become a landmark for the country, importing 74% of its energy needs, including oil and gas from Russia.

If the project is successful, UNDP plans to replicate it in neighbouring countries.

“Ultimately, it could revolutionise the renewable energy market in Eastern Europe and Central Asia”, — said Vasilescu.

We will remind, earlier it was reported that the UN Office for project services (UNOPS) in conjunction with the World Identity Network and the authorities of Moldova implements the blockchain-draft digital identity based on biometric data. This decision should help fight child trafficking.