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Uruguay will issue clean energy certificates on a blockchain

The Uruguayan state electricity agency (UTE) announced that it will begin to issue clean energy certificates in that country in January 2022, which will be registered in a blockchain. This was stated by the president of the UTE, Silvia Emaldi, at the VII LATAM Renewables Congress.

According to BNAmericas, the official stated that companies can use these certificates to demonstrate that they use electricity from sources renewable in the production of their goods and services. “Many of the multinationals that are already in Uruguay are requiring these certificates,” said Emaldi.

Renewable energy certificates specify, in a safe and traceable way, that the energy received by a customer was produced with renewable sources. There are companies in Uruguay that have their parent companies in other countries that have been requesting this type of certificates.

It is expected that before the end of the year, a decree will be ready with the guidelines of the National Secretariat of Energía de Uruguay, for companies to demonstrate that use electricity from renewable sources for the production of goods and services .

Uruguay will use an Ethereum-based blockchain

Already in November 2020, the president of the UTE, accompanied by the Planning and Environment manager of the UTE, Pablo Mosto, had given details about the characteristics of the blockchain that will be used by the agency to issue clean energy certificates

Se It is about the Energy Web Chain, proposed by the Energy Web Foundation (EWF), which is dedicated to the development of this blockchain for the electricity sector. Energy Web Chain is an open source public blockchain based on Ethereum, although it uses the Proof of Authority (PoA) consensus mechanism.

The Energy Web Chain, in its current form, is a public access network with authorized validators hosted by EWF affiliated organizations. It is based on a Proof of Authority consensus, capable of a 30x performance improvement and 2-3 orders of magnitude lower power consumption, compared to Ethereum.

Electric Web Foundation.

“In addition to the traditional legal certainty and economic-financial promotion policies, Uruguay can offer international investors competitive and clean electricity,” said the president of UTE.

The sector Energy in Uruguay has previously used blockchain-based software to automate wind energy export processes, as reported by CriptoNoticias in November 2019. A blockchain based on Hyperledger Fabric was used, with nodes managed by energy producers and by the marketer. A smart contract checks the price of energy in real time and records its destination, taking into account the best price at which it can be sold.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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