Abjayon Inc to support ISGF to launch the first of its kind project in South Asia on Peer to Peer (P2P) Trading of Rooftop Solar Power on Blockchain in Lucknow, Uttar Pradesh

Hyderabad: California based enterprise technology services provider, Abjayon Inc today announced its partnership with ISGF (India Smart Grid Forum) to support the integration of blockchain platform with UPPCL’s billing system.

Uttar Pradesh is all set to launch India and South-Asia’s first blockchain-enabled Peer to Peer (P2P) Trading of Rooftop Solar Power on 17th December 2020. Uttar Pradesh Power Corporation (UPPCL), Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) will host the first of its kind pilot project involving energy generated from solar rooftop systems installed on buildings in Lucknow.

The project is being implemented by India Smart Grid Forum (ISGF) along with blockchain technology partner Power Ledger, Australia and Abjayon Inc who supported the integration of blockchain platform with UPPCL’s billing system.

“This pilot project will demonstrate the feasibility of rooftop solar energy trading through smart contracts on the blockchain platform between prosumers with their neighbouring households. Power Ledger’s platform integrates the transaction data from the smart meters to enable households to set prices, track energy trading in real time and enable the settlement of surplus solar energy transactions,” ISGF President, Mr Reji Kumar Pillai said.

Speaking on the occasion, Mr. Rohit Pareek, Vice President, Abjayon Inc says, “Peer to peer energy trading is very much required particularly in counties like India, as it answers many questions and challenges of Indian discoms. Using this platform, prosumers can sell their excess energy to neighbours and also the energy doesnt have to be transported from centrally located power plants which drastically reduces electricity transmission costs for discoms making the whole business operations very much viable. There are very few such pilots running across the world and none in South Asia so far. We are extremely proud to be the system integration partner in this pilot that paves the way for all discoms in India”

 

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