A VPP is a network of decentralized power generating units, such as wind farms and solar parks, for the purpose of enhancing power generation and trading power on the electricity market. Kyocera’s press release (Feb 25) says the companies will evaluate VPPs that promote “a low-carbon society without fuels or carbon dioxide emissions”.
Kyocera noted that renewables weigh significantly in the Japanese government’s energy portfolio plans, with a dedicated research initiative underway to create new smart energy networks.
The test is set to begin on Feb 28 in Japan where a small VPP will be installed using Kyocera’s equipment. Energy will be controlled through LO3 Energy’s distributed ledger technology (DLT) to log and manage energy flow.
LO3 Energy CEO Lawrence Orsini said, “The need to reduce carbon emissions is exerting a profound impact on energy providers worldwide. Using distributed ledger technologies, our networks enable the micro energy transactions needed to meet this challenge. We believe the synergies between Kyocera and LO3 Energy will produce a new generation of virtual power plants that can accelerate Japan’s transition to a low-carbon society.”
This is the second time this month that LO3 Energy is in the news for its partnerships, and in Japan. Barely a week ago, major Japanese trading conglomerate Marubeni had announced a pilot with LO3 Energy for a blockchain-based energy marketplace.