Bangchak Corporation Public Co. Limited (BCP), which is a Thai petroleum refining firm is testing a blockchain-based energy trading platform and commercial microgrid. Bangchak Corporation (BCP) Tests Blockchain Energy Trading Platform.
BCP is testing the new platform at a shopping mall attached to one of its fuel stations in Bangkok. The new system will purportedly combine:
- commercial rooftop with 280.9 kW
- canopy solar photovoltaics with 913 kWh of lithium-ion
- nickel-manganese-cobalt oxide and
- 92 kWh of lithium-iron-phosphate battery energy storage capacity.
At the end of the day, the essential electricity needs of a normal BCP fuel station will be provided by the microgrid generation and distribution platform. Further, it also supports in generating, distributing and storing energy for shopping mall tenants.
The Green Community Energy Management System (GEMS) is a test sandbox framework which is based on the Ethereum (ETH) blockchain. BCP plans to see whether the GEMS can connect to its network of fuel stations all over the nation.
“Our customer, Bangcheck Petroleum Co., wants their people to gain know-how regarding the design and implementation of microgrid systems, as well as know-how regarding the operation of microgrids as a business. Energy storage systems’ costs are coming down, and they want to be ready to implement these systems.”
-Wuthipong Suponthana, the managing director of Leonics.
The Thai government has been dynamic in supporting the improvement of decentralized technologies and cryptocurrencies. In January, the National Electronics and Computer Technology Center (NECTEC) built a blockchain solution for e-voting. All votes will be associated with the new innovation once 5G is adopted,
Further, the Thai National Legislative Assembly voted to permit the issuance of tokenized securities on a blockchain in February.