Australian energy retailer Mojo Energy is implementing WePower’s Elemental blockchain renewable energy marketplace.
Elemental is a utility-scale platform which was developed in partnership with Australian utilities for wholesale green energy procurement and the management of green energy products.
Mojo Power is the first retailer to adopt Elemental, which has been launched under its own brand, and will serve its small business and corporate customers.
Robinvale Solar Farm in Victoria is already available on the platform. Mojo intends to add additional projects in New South Wales and Queensland, as well as to procure projects via WePower’s wholesale marketplace.
“We’re excited to offer corporate clients in Australia easy access to direct energy procurement,” says Mojo’s managing director Warren Murphy.
“Mojo is eliminating the dependence on the complicated energy procurement procedures and enabling companies of all sizes to buy local green energy with full transparency easily”.
Corporate and industrial consumers are major users of energy but apart from the largest users have been limited in their ability to access renewable energies. Elemental, analogous to other peer-to-peer and renewable energy certificate offerings and opens the way for the smaller C&I users, to secure green energy to meet theirs or their supply chain decarbonisation goals.
With the Mojo retail marketplace, customers will be able to purchase renewable energy directly from local producers as a standard retail energy contract – a novelty in the Australian market.
WePower, headquartered in Lithuania and one of the early pioneers of blockchain in the energy sector, says it also is in various stages of deployment of the platform with energy retailers across the US and Europe.
The key functions Elemental was designed to serve are to allow energy retailers to conclude wholesale renewable energy transactions with the energy producers easily, and to use this energy to rapidly develop and launch renewables-linked new energy products to their business and corporate customers.
Retailers can upload their own portfolio of renewable PPAs or procure PPA strips from WePower’s wholesale marketplace.
Users are able to select the best matching renewable energy facilities based on their consumption data, dynamically firm up the balance of their consumption, select additional green credits and select the contract and its term.