Brazilian electric utility company EDP Brasil has announced the launch of the Intelligent Energy Laboratory alongside Accenture – a global business management and information technology consultancy – to promote the use of blockchain technology within the energy sector.
The initiative, which is based in the city of Recife, focuses on the development of new energy solutions and technologies for mass public use. Market tests will be performed at Accenture’s headquarters in São Paulo.
Merging blockchain with the energy sector
EDP Brasil’s new blockchain initiative includes integrating competencies in the fields of solar energy, green energy solutions, and electric power.
For its first project, the Intelligent Energy Laboratory aims to develop a solution focused on solar energy generation. As reported by Computer World, the solution implemented will be able to measure and record energy consumption and distributed generation from consumers in the company’s concession area.
According to EDP, the solution facilitates the process of managing the energy generated by solar power plants which is then used by customers.
During a visit to Recife’s technology hub Digital Port, representatives of both companies signed an agreement to work towards utilising blockchain technology within the energy sector.
EDP’s president Miguel Seitas stated:
“Leading an energy measure is a fundamental vector of EDP’s strategy. The Intelligent Energy Laboratory, in partnership with Accenture, foresees the development of solutions that are promoting the transformation of the sector.”
Smart contracts will be key
All Intelligent Energy Laboratory innovations will be converted into products for EDP Smart, the EDP Group brand that brings together the entire portfolio of energy services.
Carlos Andrade, EDP’s vice president of strategy and business development, said:
“Collaborating with Accenture helps us create value for the development of new solutions for a non-evolving market (…) consumers are increasingly aware of their clean and efficient energy capacity, and we have a huge potential for innovating technologies to meet that demand.”
Adriano Giudice, executive leader in the utility sector at Accenture Latin America, added that “Accenture, as a global company, is working with EDP for a global disruptive strategy in the industry”.
Given both Accenture and EDP’s proven track records of successful projects, one could expect some quality developments to be released by both firms, hopefully in the near future.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.