SANSIRI has joined with BCPG and Power Ledger to set up what they say is the world’s largest real-time blockchain-based, peer-to-peer electricity trading pilot project.
The project is centred on a property in Bangkok, Town Sukhumvit 77 (T77). As part of the plan, Sansiri plans to install solar panels on the roofs at the sprawling complex as well as at more than 30 other property projects over the next three years.
Uthai Uthaisangsuk, chief operating officer of Sansiri, said that BCPG and Sansiri had installed solar rooftop panels with blockchain-based energy trading technology in the trial at Town Sukhumvit 77.
The developer is promoting the project as offering “a complete array of lifestyle activities and residential options” on a plot of more than 50 rai in Sukhumvit Soi 77.
The system implementation, with official trading to start in September, comes with a total power generating capacity of 635 kW. Of this amount, 54 kW will be for Habito Mall, 413 kW for Bangkok Prep International School and 168 kW for Park Court Condominium.
In addition, Sansiri installed the system in its pre-cast factory with a capacity of 150 kW. By 2021, the company plans to install solar rooftop panels with blockchain-based energy trading in 31 new projects, with a total power generation capacity of 2 megawatts.
"The solar rooftop technology being implemented means it brings cheaper electricity bills than from traditional sources, as clean energy produced from all generating units will help Sansiri residents make savings on their electricity bills of 15 per cent per unit,” said Uthai.
“The residents will also be taking an active part in helping to reduce their carbon footprint with the use of clean energy locally produced for up to 20 per cent of the T77 community’s overall electricity.”
This will result in carbon dioxide emissions being reduced by approximately 530 tonnes per year, which is equal to the forestation of 400 rai.”
He said Sansiri is striving to create “a green sustainable living community with smart, eco-friendly energy-efficient initiatives by incessantly exploring new environmental technology”.
In pursuing the company’s strategy known as Energy Management for the Future, the firm is seeking to implement renewable energy initiatives in all its developments.
Under the strategic partnership with BCPG, the companies in the next stage will implement the platform for residential solar rooftop panels with blockchain-based, peer-to-peer energy trading. The platform will be tailored to suit each of Sansiri’s 20-plus condominium and single-house projects.
Bundit Sapianchai, president and chief executive officer of BCPG, said the firm will spend around Bt30 million to Bt50 million to lay down infrastructure and technology for the pilot project.
“This is aimed at creating a sustainable future with our various partners to provide electrical power from different renewable sources in the most efficient way with innovative and intelligent technology,” Bundit said.
“The pilot implementation of the blockchain-based electricity trading platform at T77 is being carried out in partnership with Sansiri and Power Ledger, the world’s leading pioneer in renewable energy trading platforms from Australia, for the first successful case of an energy trading platform in Southeast Asia.”
The pilot project at T77 is being implemented in four buildings, with a local energy storage and connection to the Metropolitan Electricity Authority (MEA)’s power supply grid. Load profile and electricity generation capacity can vary from building to building.
In the initial stage, electricity produced from the solar rooftop of each building will be consumed in its own building, allowing it to use electricity at a lower price. Excess electricity can be traded in the platform. Energy exchanging is fractional-second process, during which energy is generated and consumed differently in each building. While some buildings can produce more than they consume, others may consume more than they produce.
Excess power from one building can be traded to another building that needs it on peer-to-peer platform, and if there’s still excess left, will be traded to the local energy storage. If the local storage is full, electricity will be transmitted to MEA’s grid. When needed, each building can purchase electricity on peer-to-peer platform from the local storage and MEA’s power grid, respectively. Blockchain technology helps process the right seller and buyer at fractional-second speed. Users can use BCPG’s trading application on both their computers and mobile phones.
David Martin, managing director and founder of Power Ledger, said that the firm has a vision to put the management of the energy economy into the hands of consumers.
It also aims to democratise power by bringing the benefits of our technology to consumers leading to lower power bills, better prices for excess renewable power, and use of cleaner energy, Martin said. Using blockchain technology, the energy trading system provides an automated market trading platform for residential and commercial businesses to sell their surplus energy to who they choose and at their chosen price.
The partnership with Sansiri and BCPG marks the company’s first move into Thailand and the Southeast Asian real estate industry.