GIGAJOULE
Gigajoule is a project that applies state of the art technology in the form of floating power electricity plants. Each floating power plant is mounted on a barge, and it is composed of two SGT-A65 aeroderivative gas powered turbines. The floating power plant has an electricity generation capacity of 132 MW. The technology behind Gigajoule floating power plants is provided by Siemens, and each project is made up of 4 barges with a total output of 528 MW.
Electricity, for the most part, is a worldwide utility that is easily accessible to consumers. But when it comes to the energy industry as a whole, the conditions turn into strict regulation, monopoly, or even total chaos. Producing electricity itself is only half of the story - utilizing existing grids, matching supply and demand, and reducing greenhouse emissions while producing them is a complex task.
The energy industry is the key to bringing growth and stability to society. As many as 2.8 billion people do not have access to electricity or only have partial access, according to data from the International Energy Agency (IEA). Markets with limited or no access to electricity are concentrated in three main regions - South America, the Indian subcontinent, and Africa.
While the number of people without electricity is cause for concern, it seems to decrease rapidly. In the past two decades, hundreds of millions of people have received easier access to electricity. This trend also coincides with the growth of electricity from renewable sources, which faces special challenges in joining the electricity grid and taking notes and market prices. The IEA also estimates that renewable energy will be increasingly important:
Problem
At present, it is estimated that up to 2 billion people in the world do not have access to electricity, a figure that is increasing from year to year. This problem is more severe in countries like Nigeria, where less than the amount of electricity needed. In many developing countries where there are electricity transmission systems, electricity generation obtained through power generation systems is expensive and inefficient. In addition to negativity towards the environment, governments must issue subsidies to get access to, support the negatives for their government finances and budgets.
"Renewable energy will have the fastest growth in the electricity sector, providing nearly 30% of electricity demand by 2023, up from 24% in 2017. During this period, renewable energy will get more than 70% growth in global electricity generation, developed by solar PV and followed by wind, water power, and bioenergy. "
Solution
Gigajoule will launch a natural gas-powered solution known as a "Floating Power Plant", based on technology developed by Siemens. The Floating Power Plant uses advanced technology in the form of a Siemens SGT-A65 generation unit that uses derivatives from Rolls Royce Trent aircraft engines. Two SGT-A65 gas-fired generating units are installed on a floating platform, with several units deployed at each location depending on demand. This innovative system produces electricity that is efficient, clean, reliable, and flexible. Gigajoule will be regulated in Malta, the pro-blockchain regulatory environment. In addition, ships with the Flag of Malta enjoy registration and tax benefits.
As with other developments in the energy market, changes are largely placed within the borders of the nation-state, mostly where favorable rules and regulations facilitate the renewable energy market. Renewable Energy is largely an unpredictable source of energy. For this reason, the process of integrating renewable energy into the grid rather intensies the data, inviting challenges and opportunities to find innovative solutions for the calculation, recording, prediction and seamless integration of renewable energy to obtain more environmentally friendly energy.
However, we cannot exclude regions that emit energy that exists in South America and pockets that emit energy that is successful in Africa, one of the markets developed for alternative energy sources. But that doesn't come without its own problems - there are regions in Africa where renewable energy is easily accessible but it is very difficult to increase the investment needed to build infrastructure and use technology in place.
How can blockchain help?
Asked above, generating electricity, matching supply and demand, and providing predictable questions are the keys to bringing electricity that can be obtained in a broader sense.
The first use of blockchain to overcome this problem lies in its ability to maintain records, peer-to-peer connections, and token generation. Using blockchain, energy exchange notes can be direct, using the unique key from the participant grid. Payment events can also occur immediately, and transaction records can be locked into blocks that cannot be changed. With respect to interaction and blockchain payments, events can occur at almost the same time, saving the need to match data.
Every transaction cannot be continued due to the fact that the use of complex encryption eliminates the need to trust regulators or human entities. Every transaction will be tracked and searched, because the blockchain is not completely anonymous and can be anonymized for energy tracking. In theory, connections in blockchain-powered networks will map the actual grid and connections between producers and consumers - or "prosumers" as they have been called, because they are on both sides of the energy equation.
The project utilizes the blockchain for the electricity market
Because the blockchain has a mechanism to avoid double counting of energy and can trigger automatic events to maintain the speed of the energy network, projects have begun to explore solutions.
One such project, Power Ledger, has an explicit mission to create connections between consumers to buy and sell electricity. Their project facilitates the market but also encourages additional investment in photovoltaics. Through the practice of tokenization of assets, Power Ledger allows for the partial purchase of renewable source assets - thus, allowing anyone to directly participate in the purchase and installation of more green energy households. This increases the energy mix and also brings electricity to areas that were previously unreachable.
WePower offers a similar approach by stressing the importance of directly accessing the green energy market. Depending on the country, green energy can be added to the general mix, governing prices set by the state. The platform successfully offers a more efficient price and a direct link to green energy. WePower offers direct on-chain accounting, as well as auction mechanisms to create more efficient price discovery. We Power also presents a Power Purchase Agreement, which is a simpler automated contract. This will enable small businesses or households to achieve better electricity prices, without the need for complicated contracts with electricity suppliers.
Gridplus is another blockchain grid coordinator for the US market, which specializes in small-scale lots, potentially linking domestic producers to place their surpluses at competitive prices.
The practice of electricity trade is well established in developed countries. In the UK, as many as 30 alternative energy companies already sell electricity, and offer sales contracts using a conventional mix of electricity generation, 100% renewable energy, or a cocktail of both. However, it is not as easy as taking a solution from an established market and using it for emerging markets like Africa. While for many markets, there is already a trading infrastructure in place that works quite well, simply adding a blockchain to it can be seen as just a ruse that doesn't solve the underlying efficiency problem. Pure utility tokens will not help build actual production in places where there are none.
However, the blockchain can be used very well to issue security tokens with which the company ensures there will be investment, returns, and efficiency, in driving the development of new power plants. Blockchain security tokens will be very effective in providing financing to utilize a mixture of fuel and technology (including renewable energy) that is tailored to the community's need for electricity in every emerging market.
Gigajoule's main market is Nigeria. As mentioned earlier, Africa is a market with the potential for a varied mix of green energy. The company brings gas-based production into the mix. Nigeria was chosen as the main market because of its growing population, as well as an abundance of natural gas, which, however, is burned in vain and underutilized. At the same time, the country promises to become Africa's largest economy, generating a large amount of power to meet demand over the coming decades. A project such as Gigajoule will help Nigeria through an unemployment crisis that propagates through education and employment programs for those in need.
Because it sounds promising, the task of Gigajoule to build an offshore gas turbine platform will require time - power generation equipment can save 18 months for procurement and therefore, Gigajoule needs to be repaired two years so that the power plant can be accessed and get help .
THE GIGAJOULE TOKEN
Name: Gigajoule token
Symbol: GIGJ
Tech standard: ERC-20
Total supply: 65,625,000
IEO sale: 52,500,000
Standard price: USD 1.00
Hard stamp: 50,000,000
Soft-stamp: 10,000,000
The initial coin offering shall be divided into two general stages:
Private Pre-sale: 30%
IEO Round 1 (5 days): 12%
IEO Round 2 (5 days): 10%
IEO Round 3 (5 days): 5%
IEO Round 4 (5 days): 0%
Distribution token
IEO token sale: 10%
Gigajoule team: 10%
Advisors & partners: 80%
Use of funds
Setup costs: 40%
Shipyard staff: 5%
Production staff: 5%
Projects development: 25%
Barges construc: 25%
ROADMAP
APPLICATION
SEP 2019
NOVEMBER 2019
March 2020
SEP 2020
NOVEMBER 2020
MAR 2021
Establishment and arrangement of a holding company based in Malta
Pre-sale of Personal IEO
CONSTRUCTION
April 2021
July 2021
AUGUST 2022
NOVEMBER 2022
Carry out the procedures for disbursement of construction, administration and control.
OPERATION
JAN 2023
DEC 2042
Electric power supply begins and continues for the next 20 years, based on the Power Purchase Agreement with the Nigerian government.
Team
David Gardner - Founder & Senior Engineer
Chris Potter - Founder & Maritime Engineer
Warren Schwartz -NFounder & Software Engineer
Russel Schwartz - Founder
INFORMATION
AUTHOR
