NEW YORK — Consensus 2018, May 15, 2018 (GLOBE NEWSWIRE) — ImpactPPA, today announced the company has been selected as the blockchain technology provider for a major economic development project in India. The government initiative, Bhartiya Harit Khadi Gramodaya Sansthan (BHKGS), which loosely translates to the “Indian Green Cotton Textile Village Development Organization,” aims to employ up to 50 million women from various states in India.
The project supported by the Honorable Minister Shri Giriraj Singh of the Ministry of Small and Medium Enterprises (MSME) will install looms for textile work in women’s homes starting in Khanwan Village of Bihar. ImpactPPA will manage the engagement of a strategic partner’s technology to power the entire project using renewable energy, and then integrate and manage the supply chain with ImpactPPA’s blockchain technology.
The program enables women to generate between 8,000 and 10,000 a month rupees from home, approximately 135 U.S. dollars. The MSME states that this will raise family income by 60 percent in some of the poorest villages of India where the minimum wage is less than 7000 rupees.
“It’s an honor to work with the government of India to deploy out technology solutions,” said Dan Bates, CEO of ImpactPPA. “A project of this scope clearly demonstrates that the use of renewable energy and blockchain technology has reached the mainstream. This partnership perfectly aligns with our fundamental mission to help improve quality of life with energy as the engine for social good and greater economic justice.”
The first installations are expected to be completed in June with a ribbon-cutting ceremony inaugurating the project presided by Prime Minister of India Narendra Modi at the first textile processing facility in Khanawa where ImpactPPA is providing 100KW to power the plant and 2KW systems to begin deploying the solar powered looms for production. The Indian government plans to employ several million women through its initiative with ImpactPPA by the end of the year.
“Having worked with the government of India on various solutions and projects for social impact, this alliance is a game-changer,” said Aradhana Singh, CEO and Managing Director of Sarang Services Pvt. Ltd., the company serving as the local partner for this project in India “We are thrilled that ImpactPPA will be the provider of energy and blockchain technology and services for the project, bringing tangible economic growth opportunities while advocating women’s empowerment.”
ImpactPPA has created a model of deploying renewable energy systems in developing nations using blockchain technology. The ImpactPPA platform disrupts renewable energy financing to accelerate global clean energy production. Its tokenized model is designed to support communities in funding and deploying renewable energy solutions, untethering traditionally costly and inefficient structures for financing as well as managing the supply chain with blockchain technology.