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Powerledger Announces Vietnam’s First P2P Energy Trading Project With EVNCPC

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On March 29, Australian energy trading technology company Powerledger announced on Tuesday that it would collaborate with Vietnam\’s Electricity Central Power Corporation (EVNCPC) t

Powerledger Announces Vietnams First P2P Energy Trading Project With EVNCPC

On March 29, Australian energy trading technology company Powerledger announced on Tuesday that it would collaborate with Vietnam’s Electricity Central Power Corporation (EVNCPC) to launch Vietnam’s first peer-to-peer (P2P) energy trading project at the Australia Vietnam Energy Transformation Forum.

Powerledger cooperates with EVNCPC, Vietnam Electric Power Company, to launch a blockchain point-to-point energy trading project

Introduction:

On March 29, 2021, Powerledger, an Australian energy trading technology company, announced its collaboration with Vietnam’s Electricity Central Power Corporation (EVNCPC) to launch the country’s first peer-to-peer (P2P) energy trading project at the Australia-Vietnam Energy Transformation Forum.

The Need for P2P Energy Trading:

The world is shifting to renewable and sustainable energy sources, and P2P energy trading is a promising solution to cater to these demand-driven transitions. This innovative approach enables consumers to buy, sell, and trade energy with each other, bypassing the traditional utility grid, and facilitating the exchange of energy at a more affordable price.

Powerledger’s P2P Energy Trading Platform:

Powerledger is a blockchain-based platform that provides P2P energy trading solutions to global markets. The blockchain technology helps ensure the transparency and security of transactions while reducing costs and improving efficiency. The platform leverages AI and IoT technologies to enable the integration of renewable energy sources, energy storage systems, and electric vehicles to the grid.

Powerledger and EVNCPC Collaboration:

The collaboration between Powerledger and EVNCPC will facilitate the deployment of P2P energy trading solutions in Vietnam. The project will enable EVNCPC to trade energy with its customers directly, reducing transaction costs and promoting the use of renewable energy sources. In addition, the P2P energy trading project will promote the development of renewable energy in the country, paving the way for a more sustainable future.

Benefits of P2P Energy Trading:

The adoption of P2P energy trading solutions is beneficial to all stakeholders, including consumers, utilities, and governments. Here are some key benefits:

Cost Efficiency:

P2P energy trading enables consumers to buy and sell energy at market-driven prices, reducing their energy bills and promoting energy cost efficiency.

Sustainability:

P2P energy trading promotes the development and integration of renewable energy sources, reducing carbon emissions and promoting sustainable energy consumption.

Resilience:

P2P energy trading enables energy distribution to continue even during power outages, promoting resilience and reducing the dependency on traditional energy grids.

Empowerment:

P2P energy trading empowers consumers to take control of their energy consumption and production, promoting energy democracy and reducing the monopoly of energy utilities.

Conclusion:

The collaboration between Powerledger and EVNCPC will facilitate the deployment of Vietnam’s first P2P energy trading project, promoting sustainable energy consumption, cost efficiency, and energy resilience. P2P energy trading is a promising solution for the world’s shift towards renewable energy sources, and this project is a significant step towards a more sustainable future.

FAQs:

1. What is P2P energy trading?
A: P2P energy trading is a blockchain-based solution that enables consumers to buy, sell, and trade energy with each other, bypassing the traditional utility grid and promoting the use of renewable energy sources.
2. How does P2P energy trading benefit consumers?
A: P2P energy trading enables consumers to buy and sell energy at market-driven prices, reducing their energy bills and promoting energy cost efficiency.
3. What is Powerledger’s role in Vietnam’s P2P energy trading project?
A: Powerledger is a blockchain-based platform that provides P2P energy trading solutions, and their collaboration with EVNCPC will facilitate the deployment of Vietnam’s first P2P energy trading project.

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