Sinan Energy launches carbon tokenisation blockchain

South African blockchain startup Sinan Energy is targeting an initial 100MW+ of distributed generation in northwest South Africa.

Sinan Energy, the latest company aiming to exploit the blockchain to fund renewable energy projects, is proposing this will be achieved primarily through the sale of tokenised carbon credits as well as through energy sales

Sinan Energy’s blockchain platform is designed to tokenise, record and verify carbon credits that are generated from its own plants. By doing that, the company expects to quickly secure international certification and then trade carbon credits on global carbon markets.

Sinan Energy reports having signed power purchase agreements (PPAs) and the required permits to build and operate plants with a total capacity of more than 100MW. The utility scale plants will be built in what it calls its Innovation Implementation Zone at a location in the Northern Cape of South Africa, where there are high levels of wind and solar radiation.

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Decentralised grids and standalone plants will also be built at client sites, the first two of which are due to start construction shortly.

The company says also it has collaborated with top innovators in the global energy sector to implement new renewable energy technologies that can be commercialised at the Innovation Implementation Zone.

Among these are solar thermal solutions, vertical axis wind turbines, Energy Vault’s gravity based storage and REDstack’s salinity gradient power.

The CEO of Sinan Energy is Mohamed Madhi, a South African engineer with broad experience spanning energy, engineering and infrastructure. The core team of “seasoned experts” counts expertise in renewable energy technologies, blockchain architecture, carbon markets and sustainable development.

The Sinan Energy token joint initial exchange and dex offerings are currently underway on the P2PB2B global crypto exchange.

Sinan Energy anticipates its project will start yielding results by Q4 of 2022.

Data from Deloitte quoted by Sinan Energy suggest carbon credits could see 15-fold growth in a market worth upward of $50 billion by 2030.