Ministry/Department : Ministry of Power/BRPL
Jurisdiction : Delhi
Secretary/Chairman : Aman Sinha
Power Ledger is an Australia based company that has pioneered blockchain based peer-to-peer solar power trading. They launched their initial coin offering (ICO) in late 2017 and have their smart contract on Ethereum - Second most valuable public blockchain in world.
BRPL , A leading power distribution company in Delhi, now has started a first in India pilot project in collaboration with Power Ledger in Dwarka, Delhi to test out the concept.
The importance of the project as explained by Mr Sinha - “With the exponential growth in our economy and production, the ability to generate clean energy and utilize it across India without the need for a fully centralized grid is critical. Realizing the importance of distributed generation, we have already built an extensive renewables infrastructure, and this trial with Power Ledger will help us fully utilize that energy,”
This project is very important in a sense that a reputed power supplier from India has started a project in collaboration with a company that comes from crypto/blockchain world whereas RBI banned banking links to crypto world in 2017. This suggest that there is need for RBI to rethink about its ban as it is closing the gates for new technology adoption and development in India.