GCL Energy and Ant Digital are collaborating to implement RWA tokenization for $27 million worth of residential photovoltaic assets.
In an effort to create blockchain-based real-world asset (RWA) tokenization for residential photovoltaic assets in China’s Hubei and Hunan provinces, GCL Energy Technology and Ant Digital Technologies announced a strategic partnership on Monday.
GCL Energy Technology Co Ltd has completed the first Real World Asset Tokenization (#RWA) issuance in China's photovoltaic industry with #AntDigitalTechnologies, securing 200 million yuan ($27.4 million) in cross-border financing. #ChineseEnterprises https://t.co/vwuwHCYh54 pic.twitter.com/zluBgksgbp
— Enterprising China (@sinoprise) December 24, 2024
According to a recent post from GCL Energy Technology, the collaboration will use blockchain technology to connect green energy projects to international financial markets and improve transparency in the management of residential photovoltaic assets.
RWA Tokenization for $27 Million Green Energy Project
Residential photovoltaic assets valued at more than $27 million (200 million CNY) will be safely documented on a blockchain as part of this partnership.
By focusing the partnership’s efforts on the provinces of Hubei and Hunan, this system aims to increase operational and revenue tracking transparency.
Ant Digital Technologies will guarantee that asset data is incorporated into a safe and effective platform by offering its experience with blockchain and IoT systems.
The project improves distributed photovoltaic system management by utilizing blockchain technology, offering comprehensive insights into energy production and consumption.
In order to promote sustainable energy growth, the partnership also outlines plans for the co-development and purchase of additional green energy assets.
In order to encourage wider financial involvement in renewable energy projects, the project also investigates securitization techniques.
The partnership offers a creative way to incorporate green energy projects into international markets while maintaining operational effectiveness and transparency through RWA tokenization.
Ant Digital and Sui Blockchain Collaborate on ESG-Compliant RWA Tokenization
Apart from their collaboration with GCL Energy, Ant Digital Technologies has broadened their blockchain endeavors by working with the Sui network to implement RWA tokenization that complies with ESG standards.
🤝 @SuiNetwork has announced a partnership with Ant Digital to tokenize RWAs with a focus on environmental, social, and governance (ESG) assets.#Sui #Tokenizationhttps://t.co/00Zfy0vJEo
— Cryptonews.com (@cryptonews) December 14, 2024
With tokenized assets known as “notes,” this project brings ESG-aligned RWAs to the blockchain for the first time on the Sui network.
An international producer of solar materials and a well-known new energy organization will support these notes, guaranteeing compliance with governance, social, and environmental standards.
By supporting this initiative as an anchor investor, the Sui Foundation helps to further connect blockchain technology with industrial applications.
“Going forward, we hope to continuously provide various advanced technical services to more RWA projects, especially in the new energy sector,” said Cobe Zhang, Head of Web3 Product at Ant Digital Technologies.