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In a move toward sustainability and transparency in the energy sector, Électricité de France (EDF), has collaborated with REDEX and Rekursive Labs to automate the management of Renewable Energy Certificates (RECs). EDF is a French state owned firm and also a significant player in the global renewable energy market. This initiative, conducted on Hedera’s decentralized ledger technology (DLT) platform, aims to revolutionize and streamline the $19B renewable energy certificate market.
France's state owned energy supplier and @Hedera Governing Council member, @EDFofficiel, is building multiple #RWA use cases on the #Hedera Guardian 🇫🇷
— HBAR Foundation (@HBAR_foundation) April 24, 2024
As part of #EarthWeek, we'll be highlighting these sustainability and #ReFi use cases that are only made possible by Hedera 🧵 pic.twitter.com/983aBUzVrw
Hedera DLT Automates Renewable Energy Certificates
EDF, which is also a member of the Hedera Governing Council, recently completed a proof-of-concept (POC) that facilitates the real-time retirement of small quantities of RECs by end consumers. This groundbreaking effort marks a significant step towards empowering individuals to make informed choices about the sustainability of their energy consumption.
The collaboration leverages the capabilities of Hedera’s DLT and open-source Guardian platform to quickly automate issuance as well as redemption of RECs. By tokenizing RECs on the Hedera network, EDF, REDEX, and Rekursive Labs are paving the way for efficient renewable energy market.
Through this partnership, EDF’s MASERA Microgrid demonstrator in Singapore successfully demonstrated auto redemption of tokenized RECs at electric cars charging stations. By collecting data from various sources, including solar panels and energy storage systems, the project ensures that certified green energy usage precisely matches actual consumption at charging stations in real time.
EDF’s Vision Revolutionizes Renewable Energy Certificates (RECs)
RECs play a vital role in tracing power consumption on renewable energy sources. This makes them a convenient tool for achieving Scope 2 neutrality. By integrating these technologies developed by REDEX and Rekursive Labs, renewable energy production and consumption systems can achieve complete automation of REC lifecycle.
The Hedera network’s speed, scalability, and enterprise focus make it an ideal platform for this initiative. With cost-effective transactions, Hedera ensures real-time REC redemptions. It contributes to the promotion of sustainable energy production on a global scale.
EDF’s commitment to building a net-zero energy future aligns perfectly with Hedera’s mission of promoting sustainability through innovative DLT solutions. As the world transitions towards renewable energy, partnerships like these underscore the importance of technology in driving positive change for the environment.