The Dutch start-up assisting increase Lebanon's energy shift

Jun 30, 2020 02:53 PM ET
  • FlexiDAO is using its software to track the production of solar power from four PV plants in the nation, combined with the UN Development Program.
The Dutch start-up assisting increase Lebanon's energy shift
Image: FlexiDAO

One of the founders of a Dutch software startup which is utilizing blockchain innovation to confirm the manufacturing as well as monitoring of clean power has actually spoken to pv magazine regarding the main role played by credible green certificate programs in driving the power change.

Amsterdam-based FlexiDAO declares to already tokenize as well as track 3 TWh of clean energy annually in nine markets in Europe and South America and co-founder Joan Collell has actually spoken of the transformative function the company's RESpring software could have now a tenth nation has been included in that listing-- Lebanon.

" In Lebanon, there's a huge trouble with the schedule and liquidity of the market in [green power] certifications," claimed Collell." [Certification trading] is over the counter so there is no main area I can most likely to where I can see rates as well as schedule, I have to go and also talk with various brokers without transparent information about where the tidy power was generated and also at what time of day as well as where it is being traded."

Collell said FlexiDAO's RESpring software makes it possible for the automatic generation of certificates at the factor each kilowatt-hour of environment-friendly power is created and this 'time-stamping' also sees the unit of power come to be a specific, 'tokenized' unit of energy which can be tracked on a hourly basis.

Dual checking

Marking each unit of power in such style prevents 'double counting,' which takes place when tidy power generators market certificates related to the exact same systems of clean power to several electrical energy consumers, who get them to enhance their renewables credentials or to strike necessary tidy energy intake requirements.

There is no requirement for renewable energy generators to be part of the International Renewable Energy Certificate (I-REC) system which is applied on a volunteer basis by some clean energy customers in Lebanon. The hope is, the extra earnings stream supplied generators able to sell eco-friendly energy certificates will certainly urge extra clean power facilities to register, either to the basic I-REC program or to the RESpring remedy which Collell stated deals a lot more class.

" We are not trying to replace I-REC," said the FlexiDAO founder, "we are incorporated within that system however we make the procedure a lot more digital, clear as well as granular. We also remove the need for a third-party broker to trade the certifications by placing generators directly in touch with the purchaser, which obviously also makes business case extra appealing as well as liberates a lot more liquidity for clean energy investment."

FlexiDAO has actually debuted in Lebanon along with the UN Development Program's CEDRO project-- the Community Energy Efficiency as well as Renewable Energy Demonstration Project for the Recovery of Lebanon.

The cooperation will certainly see FlexiDAO-- which bills commercial and industrial individuals a membership charge plus transaction fees by the megawatt-hour-- demonstrate its RESpring software on devices of power produced by 4 solar jobs in the country.

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