A trial of blockchain technology that will enable shopping centres to supply energy to neighbouring communities has been announced in South Australia.
Vicinity Centres will launch the trial at Castle Plaza, which will be the first centre to integrate the energy blockchain technology as part of the company’s $75 million industry-leading solar program.
The blockchain technology, trialled in partnership with Power Ledger, will enable Vicinity to manage its energy use and distribution in real-time, switching between solar and national grid energy.
“Vicinity is one of the first property companies in Australia to be trialling energy blockchain technology and we’re committed to continuing that leadership through our integrated energy strategy,” executive general manager of shopping centre management Justin Mills said.
“We see our partnership with Power Ledger as a significant opportunity to unlock a future of more competitive energy prices for our retailers and customers while potentially sharing clean, renewable energy to the communities surrounding our centres.”
Mr Mills said the future of energy is about creating interconnected communities, including on-site generation, which is why peer-to-peer energy trading would also be considered as part of Vicinity’s mixed-use strategy, with a significant development pipeline of projects in planning.
Power Ledger managing director and co-founder David Martin said Vicinity is pioneering the new energy economy.
“Vicinity has proven to be an industry leader when it comes to renewable energy which is why the introduction of blockchain technology makes sense to its business,” Mr Martin said.
Power Ledger has projects in Japan, USA and Thailand and has been recognised for local partnerships and several projects across Australia.