Vicinity trialling blockchain technology for energy distribution

Property group Vicinity Centres is trialling blockchain technology in an effort to supply energy to neighbouring communities who connect to it’s secure power network.

The group’s shopping centre at Castle Plaza, South Australia will be the first centre to integrate the technology as part of Vicinity’s $75 million solar program.

Vicinity Centres executive general manager of shopping centre management Justin Mills noted the future of energy is through creating interconnected communities, including on-site generation, and peer-to-peer energy trading will be considered part of Vicinity’s mixed-use strategy.

“The initiative is a significant opportunity to offer more competitive energy pricing for retailers and customers, while simultaneously sharing clean, renewable energy to surrounding communities,“ Mills said.

Earlier this month Vicinity unveiled the ‘largest property solar program in the country’, which is expected to reduce the group’s consumption from the national energy grid by 40 per cent while creating at least 300 high-skilled jobs during its implementation.

“We know our centres have a considerable footprint in our communities which is why we’ve committed more than $75 million towards stage one and stage two of our solar project,” Mill said.

“The program supports our focus to create sustainable, market leading shopping, dining and entertainment options.”

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

What is your business doing to become more sustainable?
Vote

Twitter

Despite declining house prices and modest wage growth, Australian consumers have pushed spending growth to a 14 mon… https://t.co/Mgg6QeqrvC

3 days ago

Australians are predicted to spend $3.4 billion across #retail this #Easter, according to the @OZRetailershttps://t.co/X9ShvwYfZt

4 days ago

Retailers are preparing for increased consumer footfall this week as the #Easter rush begins #retail #eastertradinghttps://t.co/i1ziisLub0

5 days ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered