Together with Engineering, the Italian trading company created a system to support transactions of energy produced from renewable sources. Combining business and sustainability
Where: Italy
Where: Italy
CHALLENGE
Provide 100% green energy for the benefit of the community and the environment.
SOLUTION
A blockchain-based banking system with a shared and immutable structure.
RESULTS
Manage energy transactions carried out in compliance with CO2 emissions.
Challenge
Renewable energy, a growing market
In the near future, renewable sources will play an increasingly important role in covering our energy needs.
According to the latest figures, renewable sources will be able to supply more than 50% of the energy needed by the planet in 2035, and this percentage is expected to increase to nearly 100% in 2050.
In Italy, this trend is confirmed by the Integrated National Plan for Energy and Climate, according to which, 30% of our final energy consumption will have to be covered by renewable sources by 2030.
In light of this data, Enegan, one of the largest electricity and gas traders in Italy, has been supplying 100% green energy for several years, firm in the belief that it is now possible to do business without giving up on the adoption of a sustainable economy.
Maurizio Castagna, Enegan’s Research & Development Manager, explains: “We have chosen to use only green energy for a specific purpose: saving the planet”.
A challenge that the company decided to face by relying on new technologies. Together with Engineering, the trader launched an Energy Bank.
Thanks to the use of Blockchain technology, the Energy Bank platform enables those who produce solar energy (private or company) to manage both the production and the exchange phases in a safe and convenient way, making the place they live or work in more efficient, while respecting our ecosystem.
Solution
Digital Ecosystem
Energy Bank
Digital Ecosystem
Our solution supports the exchange of energy between all the producers registered in the bank. Taking advantage of Blockchain technology, Enegan and Engineering created an atypical banking system, based on a shared and immutable data structure that can manage and register the Smart Contracts pertaining to energy transactions carried out in compliance with CO2 emissions.
As Maurizio Castagna continues to explain: "We have created a new way of conceiving the electricity supply service: hence, our customers can consume energy through actions that bring benefits to the community and the environment”.
Exchanges are validated through a notarisation process, namely through a certification ratified by a notary’s digital signature, which guarantees energy in KWh and energy efficiency performance in Energy Efficiency Certificates.
Thanks to this approach, Enegan can effectively account for the flows between those who produce and make available renewable energy and those who use it, by obtaining reliable information from the nodes that are part of the users' network and, at the same time, guaranteeing further payment-related services.
Technology is the lifeblood of a company like Enegan, a free-market energy and gas trader that chose to use 100% green energy to help save the planet. We chose Engineering in order to address this challenge, because it embodies certainty, reliability and innovation.
Maurizio Castagna
Research & Development Manager, ENEGAN
Results
Precise forecasting of energy needs
Optimal use of energy
Impacts
Technologies
Blockchain
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Unchaining (the) business.
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