Blockchain in power sector gets a boost with Hitachi backing

7

Hitachi ABB Power Grids is to collaborate with Energy Web in advancing the implementation of blockchain in its solutions.

Hitachi, a major supplier in the energy sector, has become the latest member of Energy Web, opening the way for collaboration with its subsidiary Hitachi ABB Power Grids and the integration of blockchain technologies in its solutions.

Hitachi joins other major suppliers such as Engie, GE and Siemens and with the strength and global reach of these alongside the energy companies and startup innovators, blockchain is being driven closer to the mainstream in a growing range of use cases.

Have you read?
Blockchain renewables tracking app to be commercialised
Blockchain in energy markets – why is it a vital tool?

While the extent of the collaboration has not been specified, a joint project between the partners is envisaged in the near future.

Stuart Young, Energy Transition Champion at Hitachi ABB Power Grids, says the key to a successful transition from fossil-fueled, combustion-derived energy to clean renewable energy can only be achieved by working within a consortium such as the Energy Web ecosystem.

“Only by harnessing the capabilities of blockchain technologies and the open-source EW-DOS tech stack, can we effectively and efficiently develop our digital solutions and address the global objectives of reducing emissions, optimizing infrastructure and industry, and delivering on our sustainable development goals.”

Hitachi is involved in numerous blockchain initiatives but its participation in Energy Web appears to be the company’s first in the energy sector.

For its part, ABB has been involved in several projects. In 2019 ABB implemented a pilot with the Italian renewable energy company Evolvere, since acquired by Eni gas e luce, to use the blockchain to integrate its solar inverters to the company’s smart grid for peer to peer trading.

The longer term aim is to develop a range of blockchain ready inverters.

ABB also has partnered with the Swiss startup Ormera on a blockchain-based smart meter data management and billing solution for solar system users.