Octopus Energy group and Gresham House have agreed a “record-breaking” deal which will see the former’s Kraken platform manage a significant portion of the UK’s battery storage market. The deal, billed as “the biggest of its kind in the world”, will see Gresham House Energy Storage Fund plc (GRID) lease 900MWh of its portfolio management to Kraken, which will charge GRID’s batteries when renewable energy is abundant and discharge them when the grid is under stress.
Octopus inks ‘world’s biggest’ battery leasing deal
