Powerledger receives World Summit Award for peer-to-peer trading work in India
The World Summit Awards have presented technology company Powerledger with an award for their work in promoting distributed electricity in Uttar Pradesh, India.
The WSA scheme recognises digital applications that have a strong positive impact on society, and out of 8000 entries, the software company was singled out for its promise of bringing electricity to the largely unelectrified population in the rural Indian state.
The Australian software company picked up the gong in the ‘Environment and Green Energy’ category and their efforts have led to legislative change to allow peer-to-peer (P2P) trading.
“The entire team at Powerledger is delighted with the award because it validates our blockchain-enabled technology,” said Powerledger Executive Chairman and co-founder Dr Jemma Green.
There were 40 winners across a range of categories and Powerledger was one of only two Australian businesses to receive the prestigious Diamond trophy.
“Powerledger is proud to showcase to the world that our technology is making a real contribution to distributed and decentralised energy markets, and we are being recognised for this on the global stage,” said Powerledger Executive Chairman and co-founder Dr Jemma Green.
The company’s blockchain-enabled platform encourages the use and growth of renewable energy at scale, without increasing congestion on the grid. The blockchain is a digitised, decentralised, distributed ledger recording all energy transactions taking place on a P2P network, which is helping the government of India in its ambitious goal of installing 40GW of solar rooftop power.
In awarding Powerledger, the WSA said the winners of 2021 demonstrate how content driven digital solutions decisively support societal challenges and assist to achieve the UN Sustainable Development Goals (SDGs).
Powerledger’s submission for the ‘Environment and Green Energy’ category focused on how its Uttar Pradesh pilot, with India Smart Grid Forum (ISGF), led to the directive given to all state utilities to implement P2P trading. This now allows greater opportunity for affordable energy to reach unelectrified rural areas.
Uttar Pradesh, which has a population of 90 million people, is the only state that has amended its regulatory framework to enable controlled P2P energy trading in India.
The World Summit Awards select and promote local digital innovation to improve society. Combining an ongoing series of international events and activities with a global network of start-ups, social entrepreneurs, mentors, jurors, speakers, experts, government leaders, academia and civil society, WSA is an international platform for cutting edge examples of how information and communication technologies can impact society in a positive way.
With over 17 years of international experience, WSA is a quality seal for digital content with societal impact in over 182 participating countries.
Powerledger has more than 30 projects in 11 countries including Europe, Asia Pacific, North and South America, including some of the largest distribution and transmission utilities, businesses, energy retailers and property developers globally.
Powerledger is an Australian technology company that has developed a blockchain-enabled renewable energy trading platform. Powerledger’s technology is available across more than thirty projects in eleven countries, enabling customers to access and trade cheaper, cleaner electricity. Powerledger’s software and features work alongside the existing infrastructure of energy systems, enabling greater control and ownership for consumers and producers alike.
