Energy advisory firm, Apollo Africa, yesterday announced its partnership with global energy technology company WePower to create the Apollo Platform – a platform that digitises energy transactions using secure public blockchain.
The Apollo platform—powered by WePower technologies—will be offered to IPPs in South Africa and across the African continent to deliver green energy to all customers, with the aim of accelerating the energy transition in the Southern African renewable energy market.
The platform will connect IPPs directly to consumers, large and small, through Power Purchase Agreements (PPAs) executed on the digital platform. All transactions will be backed by public blockchain ledger technology, to create and store records, verifiable by all parties, thus ensuring a high level of trust.
REP Developments, a South African firm specialised in development, management and ownership of small-scale wind and solar farms, will be the first IPP to enter into blockchain backed energy trades through the Apollo Platform. REP Developments will use the Apollo Platform to drive transformative innovation in the renewable energy sector to meet its own mission of accelerating South Africa’s transition to renewable energy.
Speaking on the opportunities created from regulatory changes in the South African energy market, Apollo Africa’s Managing Partner Jenna Harris said: “We are proud to partner with WePower to accelerate the energy transition in South Africa. With the generation licensing relaxations, the private sector can now step in and get involved in this huge growth sector. Renewable energy producers can sell directly to single or multiple customers and energy consumers now have choice about where their energy comes from – giving them options to source cleaner and more affordable energy.”
The Apollo Africa team has plans in place to expand its reach into Namibia, Botswana and Mozambique, thus further igniting the energy transition for the African continent.
Speaking on the collaboration to digitise energy transactions in South Africa, WePower CEO Nick Martyniuk said: “We are very excited to continue expanding our technology around the world through partners like Apollo Africa. We’re working to accelerate the energy transition globally and we’re thrilled to be a part of the transition in South Africa.”
As the renewable energy market grows in South Africa, platforms like the Apollo Platform will be useful in expanding access to renewable energy for all consumers.