Kraken, a part of the Octopus Energy Group, has finalized the acquisition of Sennen, a strategic move that is expected to significantly bolster the company’s contracted energy generation and storage assets. This acquisition aligns with Kraken’s commitment to revolutionize the renewable energy sector, as it signifies an expansion in its capabilities to manage and optimize a wider spectrum of energy projects.

Kraken’s advanced tech platform is renowned for seamlessly integrating various facets of the energy system, encompassing customer billing, device management, and sophisticated analytics. The integration of Sennen’s innovative cloud-based software further enhances Kraken’s capacity to streamline oversight and daily operations of renewable energy projects, promising greater efficiency and scalability for asset managers.

Notably, the Sennen acquisition is projected to elevate Kraken’s contracted energy generation and storage assets from 6.5 GW to an impressive 36 GW, underscoring a pivotal leap for the platform as it ventures into the management of offshore wind farms for the first time. This expansion is underpinned by the collective expertise and pioneering solutions brought by Sennen’s dedicated team, which perfectly align with Kraken’s mission to establish a cleaner and more cost-effective energy world.

As of now, Kraken is contracted to manage over 6.5 GW across more than 140,000 green energy assets in 12 countries, showcasing its substantial reach and impact in the global renewable energy market. Moreover, the seamless onboarding of Sennen’s 25 employees into the Kraken team, who will continue their operations from the Bristol office, signifies a harmonious integration of talent and resources in pursuit of shared objectives.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The solar energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.