ACCIONA Energía has signed an agreement with the start-up FlexiDAO, selected through the open innovation programme I’MNOVATION, for the initial phases of the GREENCHAIN project
The company has begun a project to generally implement the traceability of the renewable nature of its electricity generation worldwide through blockchain technology, meaning that its clients who require it can check –in real time and from any location in the world- that 100% of the electricity supplied is clean.
For the development in the initial phases of the project, called GREENCHAIN, ACCIONA Energía has reached agreement with FlexiDAO, a company that specializes in offering software tools to electric power companies for digital energy services. FlexiDAO was one of the start-ups selected by ACCIONA in the second edition of its open innovation programme I’MNOVATION last June, in which 231 companies from 16 countries were assessed.
Since then, FlexiDAO has worked with ACCIONA Energía on the creation of a commercial demonstrator to ensure the traceability of the renewable generation from five wind and hydro facilities in Spain to its supply to four corporate clients in Portugal. ACCIONA Energía has thus become the first entity to trace renewable energy through blockchain in Spain and Portugal. A specialized blockchain platform for the electric power sector called Energy Web Blockchain has been used for this demonstrator.
The next step is to continue implementation in new areas, starting with the most suitable markets for this kind of service, i.e. those that do not have consolidated renewable energy certification systems, as is the case in several Latin American countries where ACCIONA Energía has a strong presence, such as Mexico and Chile.
“Tracing the renewable origin of energy is an ever-increasing demand, associated with the growth of the corporate contracting market for green energy, and blockchain technology can facilitate this service considerably to clients in any part of the world. We are very pleased to take this first step along a route that will surely set the trend over the next few years”, says Belén Linares, Director of Innovation of ACCIONA Energía.
FlexiDAO co-founder and CEO Simone Accornero adds that “we are demonstrating that the traceability of renewable energy is now a viable proposition that generates real value for the consumer. Together with ACCIONA we want to be pioneers in showing that this blockchain-based system is commercially viable on a large scale”.
The advantages of the system lie in the simplicity of its integration with data systems, both of ACCIONA and the end client: ease of access, scalability and the complete security and privacy of data that blockchain ensures.
ACCIONA has also pioneered the application of traceability through blockchain in its two renewable plants with energy storage in batteries in Spain: at Barásoain (with wind power) and Tudela (with PV), both located in Navarra, under the STORECHAIN project.