Democratization of Energy – Power to the People for Sustainable Future
BCPG Public Company Limited (BCPG Plc.) is a leading renewable energy company in Asia Pacific. The company is committed to creating a sustainable future for the world, enabled by renewable energy, smart technology and innovation.
The Flagship for the green power business of Bangchak Corporation (BCP Plc.), one of Thailand’s leading energy companies, BCPG is the sole proprietor operating purely in the renewable energy business sector of Thailand. To date, BCPG has secured a total installed capacity of approximately 600 MW of clean energy from three technologies in four countries in Asia Pacific, namely Thailand (solar and wind), Japan (wind), the Philippines (wind) and Indonesia (geothermal). And the portfolio is continuously growing.
While the company continues to grow its base with traditional wholesale business focused on producing energy and then selling it onto the grid, it is also transforming itself in the decentralized and digital world and driving an energy revolution in Thailand by shifting power production to a decentralised network of small-scale households.
BCPG’s blockchain-based Peer-to-Peer (P2P) energy trading project at T77 Precinct in Bangkok was launched in August 2018 in collaboration with Sansiri, the country’s leading real estate developer, and Power Ledger from Australia who provides energy trading platform that allows for decentralized selling and buying of renewable energy. It was among the first in the world.
The system enables P2P sharing of electricity between residents with the option to sell excess electricity back into the system. To tap into the potential of P2P energy sharing, homes and businesses will require smart meters to track energy use and linking it to blockchain technology to help buy, sell, and trade excess energy.
Blockchain technology makes a new energy sharing economy possible, one that facilitates an open exchange of power between homes, with all transactions recorded through a decentralized ledger. This will represent a fundamental change in the way we generate, use and distribute energy for the better.
BCPG believes in democratization of energy where consumers have the power to choose their energy sources and manage their energy costs. The smart technologies that the company is bringing to households will allow better energy procurement which will be good for the planet and all stakeholders. While innovation plays an important role in creating smart green energy community, the CO2 emission levels can also be lowered in a measurable way. In addition to solar rooftop installation that enables consumers to be able to use clean energy, this innovative energy trading system will also help create “circular economy” as there will be no excess electricity nor waste. Any electron that can be produced will be used, traded, or sent to the main grid. This new clean energy economy is critical for global energy sustainability.
Through this project, BCPG hopes to be able to show how innovation can be used to create sustainable communities so that we can hand over a beautiful world to the future generations to come.