The Italian company Enel Group, specializing in green energy, in partnership with the supplier of crypto wallets Conio announced the launch of a product for tokenization of solar panels on the Algorand blockchain. This will allow Italian residents to acquire shares in Enel's solar farms and use the energy produced to reduce their electricity bills.
Enel will manage the solar panels on behalf of the partial owners and adjust the actual energy output to reduce their electricity costs. The CEO of the Algorand Foundation, Stacy Worden, noted that the ability to compensate for electricity consumption through tokenized real assets does not depend on the place of residence.
This innovation opens up new horizons for the use of blockchain technologies in the energy sector, providing consumers with flexibility and economic benefits.