Access Power Capitalize On Cryptocurrency, Solar Coin
From Dubai to Africa, Access at the heart of the Crypto-revolution
DUBAI, UNITED ARAB EMIRATES, [25 FEBURARY] Access Power, leading developer, owner and operator of power projects in emerging markets, primarily in Africa and Asia, recently announced their adoption of SolarCoin.
Access is officially the first utility scale Independent Power Producer to adopt SolarCoin in Africa for Solar PV asset and are determined to champion this particular cryptocurrency. By participating in SolarCoin, positions Access at the heart of the Crypto-revolution.
SolarCoin is a blockchain-based digital currency that’s designed to fast-track the conversion to clean energy technology by incentivising global solar energy production. Through a rewards platform, confirmed solar electricity producers can receive SolarCoins at no cost by producing solar energy. The digital coins are distributed at a rate of 1 SolarCoin (SLR) per 1 megawatt hour of solar energy produced. Like other cryptocurrencies, SolarCoin is decentralized and autonomous of any government. However unlike other crypto’s on the market SolarCoin is valued against the amount of generated solar power, creating tangibility instantly.
“Access is determined to remain innovative within the renewable energy industry and with the Cryptoboom in full swing we are keen to adopt pioneering technologies to truly add value in our process. We believe in SolarCoin and appreciate the available opportunity for the power generation sector across all communities including Africa” said by Reda El Chaar, CEO and Executive Chairman of Access Power.
As more users agree to accept SolarCoin for value depiction and transactions, its value will theoretically appreciate over time. Therefore, according to other key statements, “claiming SolarCoins can become an additional and relevant revenue stream for solar power producers, resulting in an incentive for solar energy investors to install more generation capacity.” SolarCoin has a total market capitalization of $17.68 million and as per the above statement it has the ability to continue to rise in value as it is backed by a concrete value. Access Power are true champions of industry and are to be the first large scale developer and owner to adopt SolarCoin in Africa.
ElectriCChain co-Founder Francois Sonnet:“It’s the right time for Blockchain and the right time to act on climate change ; the acceptance and circulation of SolarCoin as a Digital Asset to solar power producers in Africa with Access Power shows that leading companies are taking leading steps towards the Energy Transition. We are excited to working with Access Power in Africa as we believe developing nations are those which might benefit most from digitalisation”.
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