Powerledger Wins World Summit Award for Promoting Distributed Electricity in Uttar Pradesh

The World Summit Awards (WSA) has presented Powerledger with an award under the Environment and Green Energy category for its work with India Smart Grid Forum (ISGF) in promoting distributed electricity in Uttar Pradesh (UP), India.

The WSA scheme recognizes digital applications that have a strong positive impact on society, and out of 8,000 entries, Powerledger has been singled out for its promise of bringing electricity to the largely unelectrified rural population in the state of UP.

The company in a statement said that “our efforts with partner ISGF have led to legislative change to allow peer-to-peer (P2P) energy trading within Uttar Pradesh.”

There were 40 winners across a range of categories and Powerledger was one of only two Australian businesses to receive the prestigious trophy.

Commenting on the award win, Dr. Jemma Green, Executive Chairman and co-founder of Powerledger, said “Powerledger is proud to showcase to the world that our technology is making a real contribution to distributed and decentralized energy markets, and we are being recognized for this on the global stage.”

The company said that its blockchain-enabled platform encourages the use and growth of renewable energy at scale, without increasing congestion on the grid.

It also added that the blockchain is a digitized, decentralized, 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.

The company’s submission focused on how its UP pilot, in partnership with 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, it further said.

Uttar Pradesh, which has a population of ninety million people, is the only state that has amended its regulatory framework to enable controlled P2P energy trading in India. The company is now scaling its peer-to-peer energy trading projects across India.