Launch of PowerDime token renewable energy platform with Chintai
PowerDime, an energy finance company, has unveiled a tokenized renewable energy trading platform built on the Chintai Layer-1 blockchain network. The platform is for institutional investors seeking profitability and financing options for renewable energy projects.
The platform features alternative virtual power purchase agreements – financial contracts for a fixed price of electricity – and provides investors with regular cash flow. Chintai Managing Director Josh Gordon told Cointelegraph:
“Using the power of the blockchain, we're transforming renewable energy beyond a commitment – now it's an investment opportunity. We're giving institutional investors the tools to drive sustainable futures by promoting traditionally illiquid contracts and earning real financial returns.”
Gordon said the platform currently covers wind and solar power, with plans to expand renewable energy offerings in the future. The platform is available in the United States, United Kingdom, and select parts of the Asia-Pacific region, with plans to expand to other regions over time.
International power purchase agreement market. Source: Chintai
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Carbon credit markets and renewable finance
The latest development from PowerDime is a form of regenerative finance – an investment sector focused on financing projects that promote social, environmental and other public benefits.
Renewable finance can be made possible by blockchain technology, decentralized autonomous organizations and investors by introducing real-world assets that allow access to global markets for forestry projects, renewable energies, reducing carbon dioxide emissions and more.
In the year On December 5, 2023, researchers in the United Arab Emirates unveiled a carbon trading platform at the United Nations Climate Change Conference (COP28).
The blockchain network tracked carbon emissions from any registered public or private entity and allowed users to trade and control tokens representing reduced carbon emissions in the supply chain.
In May 2024, KlimaDAO Japan announced the launch of a carbon credit marketplace. The decentralized autonomous organization is focused on combating climate change and may expand the carbon credit market to other regions.
Most recently, in September 2024, financial services firm Northern Trust launched an institutional carbon credit ecosystem. A set of tools featured in the ecosystem manage carbon credit token issuance, transfers, and maintenance throughout the digital asset's lifecycle.
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