On December 17, 2020, Uttar Pradesh (UP) launched India, South Asia’s 1st blockchain-enabled Peer to Peer (P2P) Trading Platform for Rooftop Solar Power Producers in Lucknow, UP. The Pilot project will be implemented by India Smart Grid Forum (ISGF), Power Ledger (Australia based Blockchain technology partner) & Abajyon Consulting.
The project will be hosted by Uttar Pradesh Power Corporation Limited (UPPCL), Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) & Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA).
Gist about the Project:
i.The platform will facilitate the trading (buying and selling) of Energy generated from Rooftop Solar powers installed on Buildings in Lucknow.
ii.The platform will also be used to set prices, track energy trading in real time & enable settlement of surplus solar energy transactions.
Key Points:
i.As it is a pilot project, the trading platform has been launched with 12 participants – 9 customers with rooftop solar (prosumers) & 3 customers without rooftop solar (net buyers).
ii.Only mock trading will take place for the next 3 months (no money transactions). The participants have been provided online training by ISGF.
iii.Results & Recommendations from the implementation of the pilot project will be submitted to UPPCL & Uttar Pradesh Electricity Regulatory Commission (UPERC) for promotion of P2P rooftop solar power among the people of Uttar Pradesh.
iv.The fees for the block chain technology will be recovered in the Account Rate of Return (ARR) of the concerned distribution agency.
v.Last year, Singapore’s SP Group, an energy utility group, launched one of the world’s first blockchain-powered renewable energy certificate marketplaces at the Association of Southeast Asian Nations (ASEAN) Energy Business Forum.
Background:
i.UPERC had approved the pilot project in the Rooftop Solar PV Grid Interactive Systems Gross/Net Metering Regulations, 2019 issued in January 2019.
ii.The pilot project will be carried on in government buildings or consumers.
iii.The Union government has set a target of installing 40 Gigawatt of rooftop solar power generation capacity across the country by 2022.
Recent Related News:
i.On 28th May 2020, The Deputy Chief Minister of Uttar Pradesh and PWD Minister of State Keshav Prasad Maurya, announced the development of 800 km herbal roads along the state and national highways through the state.
ii.On September 24, 2020 Yogi Adityanath, Chief Minister(CM) of Uttar Pradesh(UP) launched Unified Re-imagined Innovation for Student Empowerment (U-Rise) portal in Lucknow, UP.
About Indian Smart Grid Forum (ISGF):
ISGF is a public private partnership initiative of the Ministry of Power (MoP), Government of India.
President – Reji Kumar Pillai
Headquarters – New Delhi
About Uttar Pradesh:
Chief Minister – Yogi Adityanath
Governor – Anandiben Patel
About Power Ledger:
Executive Chairman – Jemma Green
Location – Perth, Australia
