Enel Group, an Italian green energy company, has partnered with crypto wallet provider Conio to facilitate fractional ownership of solar panels via tokenization on the Algorand blockchain. This initiative allows Italians to own a share of Enel's solar farms, with the generated power being used to offset their residential energy bills. Enel will oversee the management of the solar panels, adjusting energy production to benefit the fraction owners. According to Staci Warden, CEO of Algorand Foundation, this innovative product enables users to offset electricity usage regardless of their geographic location, exemplifying the potential of tokenized real-world assets. This move is part of a broader trend in blockchain, highlighting the growing intersection between energy and cryptocurrency.

Source 🔗