Francisco Orte Benedit
Polytechnic University of Madrid, Spain
Title: Blockchain technology in the wind energy sector: an overview of potential applications
Biography
Biography: Francisco Orte Benedit
Abstract
The development, construction and operation of a wind farm is a complex and long process involving many different agents. Disputes arising from interpretations of contract clauses are usually lengthy and costly. Unprecise definition of boundaries (both physical as well as contractual) is also a source for delays and extra costs. On the other hand, blockchain technology provides the framework under which a set of data can be irrevocably and undisputably arranged in a way that all parties can share it and add elements to the blockchain in a secure way which is validated by the system itself. One of the uses of blockchain is the implementation of smart contracts witch enable the execution of certain clauses without the need of a third party external assessment. Some of the contracts are exceedingly complex to try to reduce them to a set of simple rules, but the development of smart contracts for specific aspects can be of great help to increase the efficiency of a project. In this paper, we analyse the different phases of a wind farm project (from predevelopment works to operation and maintenance) and suggest smart contracts for those elements that can be singled out as suitable for this technology. We find that, at some stages, a formal input from a third party may be needed and suggests ways to automatize this. This hybrid character is not present, however, for the operation of the wind farm, where a sensible choice of sensors may confirm a fully automated system.