Turbo Energy (NASDAQ: TURB) is launching a pilot project to tokenize financing for hybrid renewable energy systems, starting with a solar and battery installation at a supermarket in Spain. The initiative aims to demonstrate how blockchain-based debt instruments can fund distributed energy projects.
The project is being developed in collaboration with digital asset infrastructure company Taurus and the Stellar Development Foundation. According to an announcement, the pilot will test how tokenized financing can support liquidity and improve capital access for renewable energy financing.
Energy as a Service (EaaS) is a model that allows customers to pay for energy usage or performance without owning any equipment. It enables businesses to access clean energy through subscription contracts, with the supplier responsible for installation, maintenance, and operation.
The pilot will use Turbo Energy's SUNBOX solar energy storage system to tokenize debt financing for on-site Power Purchase Agreements (PPAs). This model aims to create a scalable framework for financing commercial and industrial solar projects globally.
Taurus will use the Stellar blockchain to issue and manage Turbo Energy's renewable energy tokens, enabling fragmented on-chain financing that allows more investors to participate in funding clean energy projects.
According to Grand View Research data cited by Turbo Energy, the global EaaS industry is valued at $74.43 billion in 2024 and is expected to more than double to $145.18 billion by 2030.
In the early days of BTC, critics often claimed that its massive energy consumption was harmful to the environment. While BTC and other proof-of-work blockchains do consume significant amounts of electricity to secure their networks, innovations within the cryptocurrency ecosystem are also driving environmentally friendly solutions.
In January, Italian renewable energy company Enel Group partnered with cryptocurrency wallet company Conio to allow investors to purchase tokenized shares of solar panels on the Algorand blockchain. This product enables Italian investors to buy partial ownership of Enel's solar farms and use the generated energy to offset their household electricity consumption.
In October, Brazilian solar company Thopen announced it is considering transitioning to BTC mining to "absorb the energy produced by the country's renewable energy sector."
In August, UK-listed company Union Jack Oil announced plans to use natural gas from undeveloped oil wells for BTC mining.
Related: For Scientific Gaming: Ideosphere Aims to Fund Research Through Prediction Markets
Original article: “Turbo Energy to Pilot Tokenized Financing for Renewable Energy Projects on Stellar”
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