Thailand initiates blockchain power trade in AC

BANGKOK, August 21 (TNA) - Thailand, through the state-run Metropolitan Electricity Authority (MEA) and BCPG Public Company Limited (BCPG), has initiated a blockchain solar power trade project, the first of its kind in Thailand and even in the ASEAN Community (AC), as a direct demand and supply connection to cut the cost from the "middle man-system". MEA Governor Chaiyong Puapongsakorn and BCPG President Bundit Sapianchai signed a memorandum of understanding (MOU) on cooperation for the pilot project at a ceremony held in Bangkok on August 20. The MEA governor told journalists that under the pilot project, both MEA and BCPG will jointly conduct feasibility studies on the development of the power production business from alternative sources and will jointly conduct energy management projects, one of which is the blockchain solar power trade project, The MEA governor said that for the blockchain solar power trade pilot project, MEA and BCPG will jointly launch a smart, green power metro T77 for a trial basis over the next two years at an MEA entity on Sukhumvit Road in the capital, starting from August 22, 2018, where solar power from their direct trade through the digital blockchain system, will be utilized. According to the MEA governor, the smart, green power metro T77 pilot project paves the way for MEA to become a power producer from diverse sources, rather than only from fossils, to enhance its power supply capability and management and support the national power security. Meanwhile, the BCPG president acknowledged that the smart, green power metro T77 pilot project, which will also be operated by Sansiri Public Company Limited, will save the electricity purchase cost by 0.15 baht per unit, with its power production capacity from the solar rooftop system installed at four buildings in its compound targeted to reach about 635 kilowatts totally. (TNA)