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.
This platform will adopt a tokenized virtual power purchase agreement (fixed price financial contract for electricity) and provide investors with regular cash flow. Chintai's Managing Director Josh Gordon stated: "By harnessing the power of blockchain, we are transforming renewable energy from just a promise into an investment opportunity. 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 the range of renewable energy services in the future. The platform is already in use in parts of the United States, the United Kingdom, and the Asia-Pacific region, with plans to expand to other jurisdictions over time. (Cointelegraph)