The startup aims to overtake other peer-to-peer traders with a 600-megawatt portfolio and strong development expertise. Green Power Exchange is the latest entrant to the peer-to-peer renewable energy trading scene.
A startup called Green Power Exchange (GPX) aims to muscle into the crowded blockchain-based peer-to-peer energy trading space with a 600-megawatt generation portfolio. The company hopes the solar assets, spread over Austria, Canada, Germany, Ireland, the Netherlands, the U.K.
and the U.S, will help it steal a lead on more established blockchain peer-to-peer energy trading players such as WePower, Power Ledger, Restart Energy and Grid+. GPX wants to create a platform where consumers can buy electrons directly from solar projects using smart contracts.
An investor presentation seen by GTM says GPX, which is scheduled to launch its platform in 2019 following an initial coin offering (ICO) in the third quarter of this year, will open for business with 62 active projects generating more than 3.3 terawatt-hours of energy a year. None of GPX’s rivals have yet to accumulate more than 10 active projects, according to the presentation.
GPX’s launch-date portfolio will be supplied entirely through Solar Provider Group (SPG), a Toronto, Canada-based PV plant developer. Christian Wentzel, one of SPG’s co-founders, is also co-founder of GPX. Read more from greentechmedia.com…
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