The Slovenia Times

SunContract launches NFT marketplace for solar panels

Energy trading platform SunContract presents the world's first NFT marketplace for real-world solar panels. Photo: Nebojša Tejić/STA

Slovenian energy trading platform SunContract has launched what it says is the world's first non-fungible token (NFT) marketplace for real-world solar panels. The inaugural tokenized solar power plant is located in the Slovenian village of Višnje near Ajdovščina.

Each NFT represents a specific panel at the power plant, with the holder enjoying the benefits associated with the physical asset, SunContract officials told reporters in Ljubljana on 12 March.

The initiative is aimed at people committed to the green transition and eager to invest in the future of renewables, as well as to the crypto community seeking exposure to real economy through the renewable energy sector.

Gregor Novak, co-founder and development manager at SunContract, said the first series of the NFTs offered was sold out in a day, and the second in a few days. Some NFTs from the third series are still available.

"Demand is tremendous, both globally and here, which shows that we are on the right track. Our innovation is a major step in the democratisation, decentralisation and digitalisation of renewable energy, making it accessible to anyone from anywhere in the world with just a few clicks," Novak said.

Individuals can choose one or more solar panels, with maintenance and insurance costs included in the service. "Our vision is that everyone can be self-sustainable with their own power plant that they can use anywhere and control via their smartphone," said Novak.

The inaugural tokenized solar farm in Višnje features 2,112 solar panels with a peak power of 517 kW.

Solar-linked NFTs can be bought and sold at any time on SunContract's NFT marketplace, while token-holders can manage the energy generated by their personal power plant from a smartphone. Slovenian electricity consumers can also directly use the energy produced through the energy marketplace.

Several new solar power plants are already under construction, as well as an agrovoltaic plant, which will comprise more than 15,000 solar panels and will be tokenised, partly this summer and then at the beginning of next year.

SunContract is an energy trading platform operating the leverages blockchain technology. The startup conducted a successful initial coin offering and launched the first national-scale retail P2P energy marketplace on Ethereum in 2018.

After starting out in Slovenia, the company has acquired electricity licenses in Croatia and Estonia. It plans to add more countries soon.


More from Business