The EDP Group and El Corte Inglés are launching a ground-breaking project of the energy consumed

Wednesday 04, December 2019

The business partnership fosters an initiative that will harness blockchain technology and allow for instant tracking of the ‘green’ source of the energy supplied.

Five wind warms owned by EDP Renewables in Andalusia will generate the energy that will be consumed by the El Corte Inglés stores in Seville, Malaga and Madrid (Campo de las Naciones). 

Madrid, 4 December 2019: The EDP Group and El Corte Inglés are teaming up to make pioneering use of blockchain technology in Spain and identify, in real time, the origin of renewable energy consumed by its shopping centres in Malaga, Seville and Madrid (Campo de las Naciones). This agreement is part of the relationship between EDP Group and El Corte Inglés in place since 2003. For over a decade, EDP has been the energy supplier of El Corte Inglés and works continuously with the retailer to offer innovative solutions and value-added services, as demonstrated by this new project. 

EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector and one of the world’s largest wind energy producers, and the EDP Group’s energy supplier in Spain, EDP, are collaborating with El Corte Inglés, Europe’s leading department store group, to instantly guarantee the renewable origin of the energy consumed at its retail establishments in Malaga, Seville and Campo de las Naciones (Madrid).  The electricity will be supplied from five EDPR wind farms distributed throughout the provinces of Malaga, Seville and Cadiz, with a total installed capacity of 169.4 MW.

This project will harness the Blockchain Energy Tracking system, which involves the use of blockchain technology to carry out real-time tracking of the origin of the energy consumed. The Blockchain Energy Tracking will carry out the fiduciary role of a ‘digital notary’ at the precise moment the energy is being consumed, and will certify that the information contained in the chain is accurate. Thanks to the use of this data structure, it is impossible to amend the information obtained or modify its authenticity and integrity.  

This new system will be used in parallel with, and in addition to, the traditional Guarantees of Origin issued by the National Securities Market Commission (CNMC) to certify the renewable origin of each megawatt per hour consumed by clients, in a process that may run for up to one year. Thanks to this innovative technology offered by the EDP Group, El Corte Inglés will now have access to updated and real-time information on its energy consumption with dual verification: live reporting via the Blockchain Energy Tracking project, and the Guarantees of Origin issued subsequently. 

Guaranteeing the renewable source of all energy consumed by a shopping centre on an annual basis allows El Corte Inglés to certify a reduction in its CO2 emissions to levels that equate to the removal of around 101,794 cars from the road for one week or the effect of 15,790 trees growing over a 10-year period. 

Carlos Cabanas, Director of Institutional Relations at El Corte Inglés, said: “This agreement will enable us to take one step further towards obtaining real-time knowledge of the source of the energy we consume. It also represents progress in the traceability and reporting process”.

João Manso Neto, EDP Renewables CEO, said: “This collaboration with El Corte Inglés, a leading company in its sector, gives us the opportunity to work alongside a first-rate client to improve our service generally and further guarantee the 100%-renewable source of the energy they consume. Thanks to Blockchain Energy Tracking, companies will be able to assure to their stakeholders that they are meeting their environmental targets, while we will make continued headway in the roll-out of technological and digital solutions in the energy sector”. 

Vera Pinto Pereira, EDP’s Commercial CEO, said:  “At EDP, we strive to provide our major clients with the latest energy efficiency solutions, whilst constantly innovating to become pioneers in the use of new technology in our day-to-day operations. We offer El Corte Inglés the best available technology at all times to ensure it meets its savings and sustainability targets. This forms part of our commitment to consistently offer the maximum added value possible to a company with which we have been nurturing a relationship of trust for more than 16 years as its electricity, gas and services supplier”.