Italian Enel Group Launches Solar Panel Tokenization via Algorand
Date: 2025-01-22 Author: Gabriel Deangelo Categories: BUSINESS
Italian energy concern Enel Group, operating in the renewable energy market, in partnership with Conio, a provider of crypto wallets, initiated an innovative project tokenize solar panels on the Algorand blockchain. The launch of the project was announced by Algorand Foundation Marketing Director Mark Vanlerberg.
Thanks to this initiative, residents of Italy will be able to purchase shares in Enel solar power plants. The electricity generated will be monetized, and the proceeds can be used to pay for utilities. Management of the panels and distribution of income will remain under the control of Enel, representing the interests of all equity holders.
Algorand Foundation CEO Stacey Warden emphasized that the new model of tokenizing real-world assets (RWAs) opens up unique opportunities for users, regardless of their location:
“No matter where you live in Italy, you can offset your electricity bills with tokens representing a share in solar panels. This demonstrates the limitless potential of tokenized markets,” Warden said.
The Enel Group initiative is not the first major move in the field of tokenization of real-world assets in 2025. In early January, the Mantra blockchain platform, focused on working with RWAs, signed a contract with the UAE developer Damac Group. The agreement, worth $1 billion, is aimed at introducing tokenized finance in the Middle East region.
