Group EDP and El Corte Inglés promote a pioneer project with “blackchain” | EDP España

Group EDP and El Corte Inglés ally in order to use the blocks technology, “blockchain”, pioneer in Spain, and get to know in real time the origin of the renewable energy consumed in their malls in Malaga, Seville and Madrid. This agreement frames within the relationship that Group EDP and El Corte Inglés keep since 2003. The energy company EDP has been its energy supplier for more than a decade and works constantly together with the commercial distribution company in order to offer it innovative solutions and services with added value, like the project that is now arising.

EDP Renováveis (Euronext: EDPR), world leader in the renewable energy sector and one of the most important wind energy producers in the world, and Group EDP’s marketer in Spain, EDP, cooperate with El Corte Inglés, European leader group in department stores, in order to ensure the renewable origin of the energy consumed in its commercial establishments in Malaga, Seville and Campo de las Naciones (Madrid). The electricity will come from five EDPR parks distributed among the provinces of Malaga, Seville and Cadiz, that sum an installed capacity of 169.4 MW.

This project will use the system “Blockchain Energy Tracking”, that involves the use of blockchain technology to carry out a real time tracking of the consumed energy’s origin.

The “Blockchain Energy Tracking” will make the fiduciary role of a “digital notary”, at the time that that energy is being used, and will certify that the information contained in the chain is truthful. Thanks to the use of this data structure, it is almost impossible to modify the already closed information, as well as its authenticity and integrity.

The application of this new system will be parallel and complementary to the traditional Origin Guarantees (GdO), that are submitted by the National Commission of Markets and Competence, CNMC, in order to certify the renewable origin of each megawatt/hour consumed by the clients, in a process that may extend up to one year. Thanks to this innovative technology, offered by Group EDP, El Corte Inglés will have access to information about its energy consumption, updated in real time, and contrasted twice: the live report of the project “Blockchain Energy Tracking”, and the origin guarantees submitted afterwards.

The guarantee that the totality of energy consumed by a shopping center a year has a renewable origin, enables El Corte Inglés to certify a reduction of its CO2 emissions in similar levels to what would entail to eliminate around 101 794 cars from the road for a week, or the one that would be producing 15 790 trees growing for 10 years.

Carlos Cabanas, director of Institutional Relations of El Corte Inglés, highlighted: “This agreement will allow to go a step forward in the knowledge of real time origin of the consumed energy. Moreover, it implies an improvement in the process of traceability and report.”

Joao Manso Neto, CEO of EDP Renováveis, commented: “This cooperation with an institution that is leader in its sector, like El Corte Inglés is, enables us to work with a first-level-customer in order to improve our service in general, and to allow to give one more guarantee of the 100% renewable origin of the energy that they consume. Thanks to Blockchain Energy Tracking, companies will be able to ensure its stakeholders that they fulfill their environmental goals, and we will achieve to go forward in the technology and digital irruption of the energy sector.”

Vera Pinto Pereira, EDP’s Commercial Counselor, concluded: “In EDP we strive to offer our great customers the latest improvements regarding energy efficiency, and we innovate to be pioneers in the application of new technologies in our work. We provide thus El Corte Inglés the best technology available at the time, so it can fulfill its goals in terms of savings and sustainability. This is part of our engagement with offering the greatest added value possible to a company with which we have been developing a trust relationship for more than 16 years, as its electricity, gas and service supplier.”