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Uruguay’s grid operator, UTE, partners with Energy Web on blockchain-based innovation

Today Uruguay’s grid operator, Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE), and Energy Web jointly announced a partnership to pursue blockchain-based solutions that will enable UTE to innovate and evolve under a variety of potential future scenarios.

The to-be-developed solutions will leverage the Energy Web Decentralized Operating System (EW-DOS), including the Energy Web Chain as well as the EW Origin and EW Flex software development toolkits.
As part of the partnership, UTE will become an Energy Web member and host an EW Chain validator node.

In recent years, Uruguay has become an international role model for innovation and rapid energy-sector decarbonization. Roughly a decade ago, oil accounted for nearly 40% of electricity generation. But thanks to a combination of legacy hydro plus massive investment in modern renewables — especially wind, which now comprises one-third of generation — Uruguay’s electricity grid is today 98% renewably powered.

Now, UTE is planning for the next phase in Uruguay’s energy transformation. Multiple trends are changing the landscape of the country’s energy sector, in potentially dramatic ways, including the growth of the circular economy, electrification of energy demand (such as with electric vehicles), ongoing decarbonization of the transportation sector, and the rise of local energy markets.

By leveraging the technology stack of EW-DOS, UTE plans to build new solutions that will help to balance the power grid with distributed energy resources (similar to a virtual power plant), unlock the full economic potential of investments in electric vehicles, provide enhanced traceability and transparency for energy attributes, and release new commercial products to meet the evolving needs of customers.

“We have already seen UTE take bold steps forward in its digitalization. By next year, they expect to reach half of their 1.5 million customers with smart meters,” said Walter Kok, CEO of Energy Web. “We are proud to partner with UTE to support the next era of digital innovation. Our two organizations are closely mission-aligned to decarbonize the electricity system by leveraging the potential of decentralized tech.”

About UTE

UTE is a public energy sector company that works to make electric energy affordable in Uruguay through its electricity generation, transmission, distribution, and commercialization activities, as well advisory services and technical assistance. UTE has its own hydro, wind, and photovoltaic renewable energy generation plants, along with support from thermal energy sources, to deliver energy to more than 1,475,000 clients located in Uruguay (more than 99% of Uruguayan households), as well as export to neighboring countries. The guiding principles of UTE include efficiency, quality, equity, public responsibility, and respect for the environment. UTE is also an Energy Web Member.

About Energy Web

Energy Web is a global, member-driven nonprofit accelerating a low-carbon, customer-centric electricity system by unleashing the potential of blockchain and decentralized technologies. EW focuses on technology integration and development, co-creating standards and architectures, speeding adoption, and building community.
In mid-2019, EW launched the Energy Web Chain, the world’s first enterprise-grade, open-source blockchain platform tailored to the sector’s regulatory, operational, and market needs. EW also fostered the world’s largest energy blockchain ecosystem, comprising utilities, grid operators, renewable energy developers, corporate energy buyers, and others.
Energy Web has become the industry’s leading energy blockchain partner and most-respected voice of authority on energy blockchain.

 

Source: Medium

2020-08-13T11:02:05-03:00August 13, 2020|Categories: Production and Energy|Tags: , , |