Enel to tokenise its renewables in Italy
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Enel has launched the EBITTS project with crypto service provider Conio to tokenise its renewable energy assets on the Algorand blockchain.
The project, which had its origin in an innovation challenge, is aimed at the many people living in apartments or other buildings with limitations on installing self-generation to access renewable energies.
Focussed on Enel’s renewable assets in Italy, participants must purchase a ‘token box’, which provides access to the solar and wind installations there in what amounts to a fractional ownership.
When the plants in the token box produce energy, its owners can potentially receive a bill discount proportional to the amount of energy produced by the plants connected to the box.
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Through a dynamic configurator, the offering is highly customisable to best suit individual needs and a dedicated app enables monitoring and control of the green energy produced and consumed, according to an Enel statement.
Conio as the crypto asset service provider worked with Enel in the implementation of the project, in particular the tokenisation product on the Algorand blockchain.
While limited to Italian assets and consumers, EBITTS is nevertheless not restricted to the country and provides a replicable and scalable model globally, easily enabling citizens around the world to become active players in the green transition, Enel states.
In Europe alone, more than 85 million families live in apartment buildings or in apartments with limited opportunities to install PV panels on the roofs of their homes.
Currently, the EBITTS token box is available as an exclusive preview for Conio customers who have, or have signed up for, an Enel Energia offer.
While not the first company to tokenise renewable assets – a notable example being South Africa’s Sun Exchange, which has used crowdfunding to develop small business scale rooftop PV – Enel asserts being the first in Italy and the world to tokenise a basket of renewable energy plants and bring the benefits to the bill.
