Kraken Technologies (part of the Al Gore-backed Octopus Energy Group) signed its first deal in the U.S. with energy manager Tenaska Power Services (TPS). The initial implementation will manage certain TPS customer battery sites in Texas but could grow across the company’s US portfolio.
Via a cloud-based platform, Kraken enables energy companies to unlock the full potential of their wind and solar farms or batteries by using advanced data analytics. Kraken offers end-to-end management of the whole energy supply chain, from flexible energy device management all the way to customer billing and support.
This strategic collaboration is aimed at giving TPS greater operational flexibility, enhancing grid stability, and optimizing its customers’ revenue streams.
TPS is part of Tenaska, one of the largest natural gas and electric power marketing companies in North America. Its portfolio includes more than 23 GW of solar, wind, energy storage and 10 carbon sequestration projects, capable of storing 50 million tons of CO2 per year.
Greg Jackson, Founder of Octopus Energy Group, announcing the news at Reuters Energy Transition event in New York, commented: “The products and services Kraken enables are the key to the cheap, green energy revolution. As our first US licensee, TPS will take decades of energy expertise and combine it with new cutting-edge technology to maximise the benefit of its customers’ assets while helping to balance the grid.
Jeremy Carpenter, Vice President of Energy Management and Operations at Tenaska Power Services, commented: “TPS is excited to work with Kraken to manage a number of resource portfolios including distributed generation, batteries and thermal generation. TPS will leverage Kraken’s unique communication and data aggregation solutions to provide its best-in-class energy management services to a broader range of customers.”
Kraken is currently contracted to manage over 6 GW across more than 45,000 green energy assets growing 30% month-on-month. It is targeting the management of 200,000 assets and 10 GW of energy capacity by the end of 2023. It is also contracted to serve 30 million energy customer accounts globally, targeting management of 100 million by 2027, with 10 million of those coming from the US.
The platform is now active in 14 countries including the UK, the US, Japan, Australia and a large portion of mainland Europe.
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