ACCIONA Energia, a Spanish renewable energy company, has announced a partnership with IKEA to provide electric vehicle (EV) charging points for the furniture retailer’s Spanish shopping centers. ACCIONA’s GREENCHAIN blockchain will trace the renewable origin of the energy supplied.
The partnership will see ACCIONA install 475 EV charging stations across IKEA’s shopping centers in Spain by the end of 2023, with plans to eventually increase the number to 567 slots. Approximately 30% of the stations will be reserved for IKEA’s suppliers and fleet.
These charging points are bidirectional, meaning that the EV batteries can also store excess electricity and provide energy back to the charging station or the grid.
ACCIONA has been using blockchain technology for years and worked with cleantech startup FlexiDAO to develop the ACCIONA GreenChain blockchain. It is based on Energy Web’s technology and can trace green hydrogen as well.
The company is also involved in carbon credit projects that utilize blockchain technology. It has partnered with ClimateTrade to provide Certified Emission Reduction (CER) certificates for green energy generated at its plants in South American emerging markets. ACCIONA has also expanded its relationship with ClimateTrade for a voluntary carbon credit trial with the Spanish stock exchange BME.
This vehicle-to-grid integration is an area of active exploration for several groups, including MOBI and Equigy, who are using blockchain to track the process. As renewable energy continues to grow in popularity, such collaborations between renewable energy companies and retailers will play a vital role in promoting sustainable energy use.Using Decentralized Finance to provide easier access to capital for renewable energy projects.
Why Blockchain is used to track renewable energy?
Blockchain technology enables accurate tracking of energy usage, production and management. This allows for more efficient allocation of energy resources, a reduction in waste and lower costs for renewable energy operators.
Just last year, leading blockchain project Energy Web announced a partnership with Volkswagen Group to roll out a new smart charging solution enabling EV owners to charge their vehicles with renewable electricity that is matched directly with the vehicle’s real-time electricity consumption.
Using blockchain for sustainable business models and real-time data management, including carbon credit markets has the potential to reduce greenwashing and help to organise the complex network of stakeholders across the energy and ESG sector. The distributed ledger ensures that data is not easily misreported or omitted which provides more accurate sources for research and has a knock on effect on the development of renewable energy solutions for the future.
If you are interested in climate focused projects, see the top 10 most promising blockchain projects focused on climate solutions in 2022. We will provide an updated list for 2023 at the end of this year.
