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Thai Petroleum Company to Pilot Blockchain Energy Project

By Jenny Aurora | March 10, 2019
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Thai Petroleum Company to Pilot Blockchain Energy Project

Bangchak Corporation Public Co. Limited (BCP), a petroleum refiner in Thailand, is testing and demonstrating a commercial microgrid and blockchain energy trading platform at a community shopping mall anchored by a BCP fuel station in Bangkok.

With 280.9 kW of commercial rooftop and canopy solar photovoltaics (PV), 913 kWh of lithium-ion, nickel-manganese-cobalt oxide (NMC) and 92 kWh of lithium-iron-phosphate (LiFePO4) battery energy storage capacity, the system is designed to adapt the electricity needs of a BCP gas station. It will also generate, store and distribute energy to other shopping mall tenants.

The Green Community Energy Management System (GEMS), which will be operated on the Ethereum-based blockchain, serves as “an experimental sandbox system” for the microgrid system. In the rise of remarkable public-health-related concerns in Thailand, GEMS is working toward deploying the system for its fuel stations to reduce pollution and save electricity cost.

Leonics’s Managing Director, Wuthipong Suponthana, said: “Our customer, Bangcheck Petroleum Co., wants their people to gain know-how regarding the design and implementation of microgrid systems, as well as know-how regarding the operation of microgrids as a business. Energy storage systems’ costs are coming down, and they want to be ready to implement these systems.”

This marks another action from the Thai government to support blockchain technology and cryptocurrencies. Back in January, The Thai’s National Electronics and Computer Technology Center (NECTEC) has developed an e-voting blockchain technology. Later in February, Thailand’’s National Legislative Assembly has allowed the issuance of tokenized securities on blockchain.

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