Blockchain venture NewX Energy and Bintan Power Plant Group (PTBPP) have formed a joint venture whereby NewX will provide technology infrastructure for projects worth $2.6 billion.
NewX is planning to deploy internet-of-things (IoT) systems embedding smart software and sensors across PTBPP’s grid and power assets, assessing and analyzing energy production and distribution data, the company said in a statement.
“In developing Asia alone, 350 million people lack access to electricity,” said Christien New, chairman of PTBPP Group. “In the first phase of this project, NewX and PTBPP aim to connect 120 million people across Asia to affordable electricity.”
The joint venture will initially distribute up to 1,320 megawatts of electricity in projects worth $2.6 billion. NewX will deploy its technology within the future portfolio of PTBPP’s power business, including international business ventures.
The two companies have already identified global oppor