PowerDime Partners with L1 Blockchain Chintai to Launch Tokenized Renewable Energy Platform

Energy finance company PowerDime has revealed that it is developing a tokenized renewable energy trading platform based on the L1 blockchain network Chintai. The platform is aimed at institutional investors seeking yield and renewable energy projects seeking financing options. The platform will use tokenized virtual power purchase agreements (financial contracts for electricity fixed prices) and provide investors with regular cash flows. Chintai Managing Director Josh Gordon said: "By leveraging the power of blockchain, we are transforming renewable energy into more than just a promise, it is now an investment opportunity. By tokenizing traditional illiquid contracts, we provide institutional investors with the tools to drive a sustainable future while earning real financial returns." Gordon also said that the platform currently covers wind and solar energy, and plans to expand its renewable energy services in the future. The platform is already in use in parts of the United States, the United Kingdom and the Asia-Pacific region, and plans to expand to other jurisdictions over time. (Cointelegraph)