EDP Group and El Corte Inglés sign joint project for technological innovation
On World Energy Saving Day in October, the project was presented during a celebration at one of the department-store chain’s locations in Madrid, with the theme “Clean Energy and Eco-efficiency".
This business alliance promotes a pilot initiative which will use blockchain technology for the real-time tracking of green energy sources.
Electricity consumed by El Corte Inglés in Seville and Málaga will be provided by five of EDP Renewables’ wind farms located in the provinces of Málaga, Seville and Cádiz, with a total installed capacity of 169.4 MW.
The pilot program will implement the “Blockchain Energy Tracking” system, which guarantees that the origin of the energy supply is renewable, while certifying that the information contained in the chain is accurate. Thanks to this data structure, the authenticity and integrity of the data collected is preserved, as it will not be possible to amend any information. With this system, both energy producers and consumers will be able to certify the green origin of the energy source; and they will also have access to firsthand knowledge regarding the methods used in its generation.
For EDP Renewables, this initiative provides a further guarantee that its energy comes from clean sources. As a result, it demonstrates the company’s commitment to integrate innovative technological solutions to disrupt the current energy landscape. Thanks to this new system, it’s possible to ensure that large, leading companies, such as El Corte Inglés, meet their environmental objectives.
Currently, the only way to certify the renewable origin of any megawatt of electricity is through the “Guarantees of Origin” (GdO) issued by the National Commission on Markets and Competition (CNMC). Working in parallel with the GdOs, this blockchain technology will significantly shorten the time needed to see results, as they will be made known to the client in real time. This way, the information will be verified by two channels and at two different times: firstly, in the live report from the “Blockchain Energy Tracking” project, and secondly in the guarantees of origin issued afterwards.