Minna Denryoku Sample Clauses

Minna Denryoku. Another example of Model J4 of P2P transaction is the project demonstrated by Xxxxx Xxxxxxxx Corporation. In contrast to the above KEPCO project, this project focuses more on an accurate tracking of the electricity generated from renewable power plants to final consumers for providing GoO (Guarantee of Origin) employing blockchain technology, while an aspect of P2P, which is bilateral two-way trading between prosumers and prosumers, is not much emphasized at present. The renewable power producers who participate are mainly medium to large size, specifically 300 kW to 10 MW, of solar PV, onshore wind and solid biomass, and the final consumers are large commercial buildings/factories who are seeking direct procurement of renewable electricity to meet the RE100 targets for instance. Minna Denryoku3 Corporation is an energy innovation venture company established in 2011 who has developed an electricity tracking system with blockchain called XXXXXXXX0.0. In the system, tokens are allocated corresponding to the electricity generated from renewables, which are re- allocated to the consumers corresponding to the amount of the renewable electricity consumed within the balancing group of Minna Denryoku who also acts as an electricity retailer. The blockchain-based system uses a platform of NEM cryptocurrency, which is open to public. The system makes it possible to identify the producers of renewable energy and trace the origin of the electricity. This is intended to attract companies with a strong awareness of ESG investment and RE100 as well as individuals and small-scale consumers who are motivated to purchase renewable energy. On September 2018, several producers and consumers in the same balancing group of Xxxxx Xxxxxxxx participated in the project to demonstrate the matching between demand and supply in 30 minutes unit (Xxxxx Xxxxxxxx, 2018). The execution results are recorded on the blockchain- based system, which enables to certificate the origin and the amount of the electricity. Having gained the positive outcome from the demonstration project, Minna Denryoku has opened the power pool platform called “ENECT Power Pool” based on the XXXXXXXX0.0 on a commercial scale. Approximately 300MW renewable energy has already been participated in this platform as of July 2019, and an additional 200MW were expected to join until March 2020 (Miyake, 2019).
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