Enel Group, Italy’s leading green energy provider, has partnered with crypto wallet provider Conio to enable fractional ownership of solar panels using blockchain technology. The initiative, powered by the Algorand blockchain, aims to make solar energy more accessible to Italians through tokenized assets.
Marc Vanlerberghe, Chief Marketing Officer of the Algorand Foundation, announced the partnership on Jan. 21, highlighting the launch of the tokenized solar product set for Jan. 24 with an initial group of clients.
Enel Democratizing Solar Energy Ownership
The product will allow Italian residents to own a fraction of Enel’s solar farms and use the power generated to offset electricity costs for their homes. Importantly, ownership is not restricted by location, meaning urban dwellers in apartment buildings—where personal solar panel installation is often impractical—can benefit from this green energy solution.
Enel will oversee the management and operation of the solar farms, ensuring that fractional owners can use the generated energy to reduce their utility bills. Algorand Foundation CEO Staci Warden praised the product as a groundbreaking real-world use case for tokenized markets.
“You can live in a high-rise and offset with partial ownership of a solar panel in a field someplace else. So cool! There is just no end to the power of tokenized markets,” Warden said.
Vanlerberghe emphasized the environmental and financial benefits, stating, “Now, these panels will be tokenized, which means everyone can ‘have’ and benefit from solar panels, both financially and from an environmental perspective of offsetting carbon emissions.”
Algorand’s Expanding Ecosystem
The Algorand blockchain has been making waves with innovative real-world applications. In addition to the Enel-Conio partnership, Algorand powers several other projects, including Wholechain, which provides supply chain traceability; Finboot, focused on ESG data management; URECA, a platform democratizing carbon credit access; and 123Carbon, specializing in carbon insetting through environmental attribute certificates.
