European renewables asset management platform WPO is to issue digital tokens that it claims will help accelerate uptake of renewable generation. Investors will be able to use the tokens, which correspond to blockchain-registered certificates, as a payment record for renewable energy transactions.
The GreenToken public offering is the first in the sector to obtain approval from the French Financial Market Authority. WPO provides technical, commercial and financial support for the renewable energy sector, in particular for wind and solar technologies. The platform oversees energy production equivalent to the entire electricity consumption of the population of Paris.
Over the past few years, WPO has been using blockchain technology to certify renewable energy production for clients, shifting from the legacy data management system which is highly fragmented and ill-suited to the decentralized and intermittent nature of renewable energy.
WPO managing director Duncan Levie said: "The aim of our public offering is to scale the wind up tokens by deploying the GreenToken to all professional players in the energy sector, as well as to individuals.