According to ChainCatcher news, the Italian green energy company Enel Group has partnered with the cryptocurrency wallet provider Conio to announce the launch of a tokenized solar panel product on the Algorand blockchain. This tokenized product will allow Italians to own a portion of Enel's solar power plants and use the generated electricity to offset their residential power consumption.
Enel will manage the solar panels on behalf of the partial owners and adjust the actual energy production to help reduce electricity bills. Algorand Foundation CEO Staci Warden stated that with the tokenization of real-world assets (RWA), the offsetting of power usage "is not tied to the place of residence." The project provides residents with a new way to manage their energy consumption.
