Energy finance company PowerDime revealed that it is developing a tokenized renewable energy trading platform based on the L1 blockchain network Chintai. The platform is aimed at institutional investors seeking returns and renewable energy projects looking for financing options.
The platform will adopt a tokenized virtual power purchase agreement (fixed-price financial contract for electricity) and provide investors with regular cash flow. Josh Gordon, Managing Director of Chintai, stated: "By harnessing the power of blockchain, we are transforming renewable energy from mere promises into investment opportunities. By tokenizing traditional illiquid contracts, we provide institutional investors with the tools to drive a sustainable future while achieving real financial returns."
Gordon also mentioned that the platform currently covers wind and solar energy and plans to expand its renewable energy services in the future. The platform is already operational in parts of the United States, the United Kingdom, and the Asia-Pacific region, and it plans to expand to other jurisdictions over time. (Cointelegraph)