Enel Group, an Italian green energy company, has teamed up with Conio, a crypto wallet provider. Together, they’re launching a new initiative that allows people in Italy to own a piece of solar panels through tokenization on the Algorand blockchain.

On January 21, Marc Vanlerberghe, the chief marketing officer of Algorand Foundation, announced this exciting partnership. With this tokenized product, Italians can now offset their energy bills by owning a share of Enel’s solar farms.

Here’s how it works: Enel will manage all the solar panels for the fractional owners. They will adjust the energy production to help lower your electricity costs. Staci Warden, CEO of Algorand Foundation, pointed out that this ability to offset electricity usage isn’t limited by where you live.

Warden explained, “You can live in a high-rise and still benefit from owning a part of a solar panel located far away. It’s really cool! The potential of tokenized markets is limitless.”

In another development, the Damac Group, a property development company based in the United Arab Emirates, has signed a $1 billion agreement with Mantra. Mantra is a blockchain focused on tokenized real-world assets (RWAs). This partnership will help Damac leverage Mantra’s technology to tokenize its diverse portfolio, which includes real estate, hotels, resorts, and more.

According to a CNBC report, U.S. President Donald Trump recently shared that Emirati billionaire Hussain Sajwani, the founder of Damac, has committed at least $20 billion in foreign investment. This investment aims to build new data centers across the United States.