WePower enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. Energy tokenization standardizes simplifies and opens globally currently existing energy investment ecosystem. WPR token holders will have priority access to participate in auctions for purchasing tokenized energy once the renewable energy plant is connected to the platform. Energy allocation will depend on the number of WPR tokens held by the participant.
The WePower platform is ready. The team is working on the launch of our pilot project with a transmission system operator Elering. The project is supported by the United Nations and the Ministry of Energy of the Republic of Lithuania, due to its potential social impact on climate change control. WePower will share part of its technologies to countries who implement green energy and CO2 accounting, using blockchain technologies.
WePower enables renewable energy producers to raise capital by issuing their own energy tokens. These tokens represent energy they commit to produce and deliver. Energy tokenization standardizes simplifies and opens globally currently existing energy investment ecosystem. As a result energy producers can trade directly with the green energy buyers (consumers and investors) and raise capital by selling energy upfront, at below market rates.
Core components of WePower growth are customer acquisition on energy production, energy consumption, and market liquidity. The platform will grow through by providing greater transparency and simplicity to the market and delivering value unavailable today, due to market inefficiencies. In the future, this is estimated to reach a consumption of 100% renewable energy, with a rough estimation of the market size at 11.5 trillion USD and further replacement of existing renewable energy sources’ capacities, due to their natural life cycle.
Energy tokens use
The owner of energy tokens can:
- Use the energy when it is produced, if the energy was purchased for a development project in the buyer’s home market.
- Sell the energy before its production within the WePower platform to any other user.
- Automatically sell the energy to the wholesale energy market once the energy is produced and receive the energy price in fiat or crypto currency.
The team has decided to distribute only 55% of the overall tokens to the public. The 20% will be locked up for the team. Another 10% will be locked up for future use, and 15% will be used for the community growth.
The roadmap to realizing these features is divided into 3 general stages of expanding complexity, called Breeze, Storm and Hurricane. Breeze corresponds to demonstrating all core features on a full value chain – hence a properly piloted system. Storm demonstrates features required for larger concentrations of renewable energy where electricity transmission and distribution grid limitations and flexibility become an issue to manage – hence Storm will demonstrate the ability of the WePower platform to successfully tackle the problems of grid integration. Hurricane will then take the system with all features tested and focus on standardization, optimization and simplification – hence, in Hurricane, development focuses on making the platform even easier and cheaper to use, as the platform is being scaled on target markets.
For more information check: https://wepower.network/