Enel Launches EBITTS Project With Conio to Tokenize Renewable Energy Assets on the Algorand Blockchain

The project, which had its origin in an innovation challenge, is aimed at the many people living in apartments or other buildings with limitations on installing self-generation to access renewable energies.

Italy’s Enel has launched a solar panel tokenisation product on the Algorand blockchain in partnership with crypto service provider Conio.

The project, which began as an innovation challenge, aims to provide those living in apartments or other buildings with limited opportunities to install self-generation to access renewable energies.

The initiative centres on Enel’s renewable assets in Italy, with participants purchasing a ‘token box’ that provides access to the solar and wind installations there in what amounts to a fractional ownership.

When the plants in the token box produce energy, its owners can potentially receive a bill discount proportional to the amount of energy produced by the plants connected to the box.

The offering is highly customisable to best suit individual needs via a dynamic configurator and a dedicated app enables monitoring and control of the green energy produced and consumed, according to an Enel statement.

Conio, as the crypto asset service provider, worked with Enel in the implementation of the project, in particular the tokenisation product on the Algorand blockchain.

While limited to Italian assets and consumers, EBITTS is nevertheless not restricted to the country and provides a replicable and scalable model globally, easily enabling citizens around the world to become active players in the green transition, Enel states.

In Europe alone, more than 85 million families live in apartment buildings or in apartments with limited opportunities to install PV panels on the roofs of their homes.

Currently, the EBITTS token box is available as an exclusive preview for Conio customers who have, or have signed up for, an Enel Energia offer.

Enel is not the first company to tokenise renewable assets – a notable example is South Africa’s Sun Exchange, which has used crowdfunding to develop small business scale rooftop PV – but it does claim to be the first in Italy and the world to tokenise a basket of renewable energy plants and bring the benefits to the bill.