Hello, meet again with me Samuraijin, I will write an article about the crypto project called Gigajoule. For more details, I will discuss it below
What is Gigajoule?
Gigajoule is a project that implements advanced technology in the form of floating power plants. Each floating power plant is mounted on a barge, and consists of two SGT-A65 aeroderivative gas-powered turbines. The floating power plant has a 132 MW power plant capacity. The technology behind the Gigajoule floating power plant is provided by Siemens, and each project consists 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 stringent regulations, monopolies, or even total chaos. Producing electricity itself is only half of the story - utilizing existing networks, 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 face special challenges in joining the electricity grid and recording and market prices. The IEA also estimates that renewable energy will be increasingly important.
THE GIGAJOULE SOLUTION
Floating Power Plants (FPPs)
- Natural gas-based power generation
- Gas turbines mounted on barges
- Can be deployed wherever there is access to the sea
- Positioned in lagoons, rivers or harbours
- Coupled to natural gas supply and the national transmission system
Natural Gas as Feedstock
- Cleanest of all carbon-based energy sources
- Gas associated with oil production (as in Nigeria) or LNG (Liquid Natural Gas)
Siemens SGT-A65 Gas Turbines
- State-of-the-art turbine technology
- Aeroderivative engines
- Modularized with generators and mounted in pairs on barges
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, power 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, hydropower, and bioenergy. "
Solution
Gigajoule will launch a natural gas-powered solution known as the "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, a 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 the rules and regulations that benefit 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 intensifies 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 successful energy 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 directly, using the unique key from the participant's lattice. 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 you the need to match data.
Every transaction cannot proceed due to the fact that the use of complex encryption eliminates the need to trust regulators or human entities. Each 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.
This project uses a 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, the project has 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 asset tokenisation, Power Ledger allows for partial purchases of renewable source assets - thus, enabling 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, adjusting prices set by the state. This 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 network 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 trading is well established in developed countries. In the UK, as many as 30 alternative energy companies already sell electricity, and offer sales contracts using conventional mixtures of electricity generation, 100% renewable energy, or a mixture 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 well enough, simply adding a blockchain to it can be seen only as a ruse that does not solve the underlying efficiency problem. Pure utility tokens will not help build actual production where it does not exist.
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 diverse 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 its 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 like Gigajoule will help Nigeria through an unemployment crisis that spreads through education and employment programs for those in need.
Because it sounds promising, Gigajoule's task of building 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.
AIRCRAFT-ENGINE POWER GENERATION
Gigajoule uses the Siemens Trent turbine as its primary power unit. At its core is the same Rolls-Royce engine that is found on the Boeing 777 and Airbus A380 aircraft, providing enhanced reliability for long-range flights and maximum passenger capacity. The Siemens Trent gas turbine is assembled in a modularised package with a Brush generator, to form the SGT-A65 generator set.
The use of Rolls-Royce engines for electrical power plants represents successful technology transfer and benefits from more than 30 years of development and billions of dollars of research.
The SGT-A65 also benefits from a long operating life of 50,000 hours (approx. 6 years). Turbines can then be switched out for a replacement in under 72 hours. The cost of this “as new” recurring operational capacity is incorporated in O&M costs.
The Siemens technology package includes comprehensive O&M and performance guarantees, resulting in maximum reliability and efficiency.
THE GIGAJOULE TOKEN
- Name: Gigajoule Token
- Symbol: GIGJ
- Technology standard: ERC-20
- Total supply: 65,625,000
- IEO Sales: 52,500,000
- Standard price: USD 1.00
- Hard stamp: 50,000,000
- Soft stamp: 10,000,000
The initial coin offer will be divided into two general stages:
- Personal 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 sales: 10%
- Gigajoule Team: 10%
- Advisors & partners: 80%
Use of funds
- Arrangement fee: 40%
- Shipyard staff: 5%
- Production Staff: 5%
- Project development: 25%
- Barge construction: 25%
ROADMAP
IMPLEMENTATION
SEP 2019
- Incorporation and setup of Malta-based holding company
NOV 2019
- IEO private Pre-sale
MAR 2020
SEP 2020
NOV 2020
MAR 2021
CONSTRUCTION
APR 2021
- Implement the construction disbursement, administration and control procedures.
JUL 2021
AUG 2022
NOV 2022
OPERATION
JAN 2023
- Electrical power supply commences and continues for the next 20 years, under Power Purchase Agreement with the government of Nigeria.
DEC 2042
EXECUTIVE TEAM
If you want to know more about the Gigajoule project you can visit the link below, Enough for my writing this time which only discusses some important points of this project, for more information please visit the link below
Website: https://gigajoule.io/
Facebook: https://www.facebook.com/gigajouletoken
Twitter: https://twitter.com/GigajouleT
Telegram: https://t.me/Gigajoule_group
Bitcointalk username: samuraijin
Bitcointalk link profile: https://bitcointalk.org/index.php?action=profile;u=905398
0x3f9bb3679f1B71F22d823992078244C87EF4D455
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