Masdar will use Kraken to control the performance of its batteries in real-time, optimise and expand its energy trading capabilities and advance the rollout of renewables in the UK, and support the country’s net-zero targets

Masdar-Octopus-Energy

Masdar signs framework agreement with Octopus Energy. (Credit: Octopus Energy Ltd)

UAE’s state-owned renewable energy company Masdar has signed a framework agreement with British energy company Octopus Energy, to strengthen energy storage in the UK.

Under the terms of the agreement, Masdar will license Octopus’ technology platform Kraken, to manage its battery storage portfolio in the UK.

Masdar will use Kraken to control the performance of its batteries in real-time, optimise them for high-returns, and use them in the most sustainable way possible.

The licensing will help the company optimise and expand its energy trading capabilities and advance the rollout of renewables in the UK, and support the country’s net-zero targets.

It follows Masdar’s announcement on £1bn investment in UK battery storage sector, after completing the acquisition of UK-based Arlington Energy, last year.

Octopus Energy founder and CEO Greg Jackson said: “Masdar has established itself as one of the leading investors in renewable technologies around the world.

“As they step into batteries in a big way – the acquisition of Arlington and this £1bn announcement – we are delighted to partner with them.

“Working together with their infrastructure expertise and Kraken’s world-leading technology, we can make a real difference – driving cleaner, cheaper and more secure energy at scale.”

Masdar selected the deep-tech platform to match the benefits of low cost, maximum efficiency, and its ability to enable a smarter energy system.

Kraken is said to deliver extended analytics, data and real time monitoring for an entire range of distributed energy resources (DERs), including battery storage.

The company currently licenced Kraken to manage more than 5GW across 38,000 green energy assets in ten countries.

The platform is expected to be used for the management of 100,000 devices and 6GW of energy capacity by the end of this year.

Furthermore, both Masdar and Octopus are expected to explore joint participation opportunities and explore collaborative opportunities in the renewable energy area.

The company said that its investment in UK battery storage is part of broader commitment to investing in renewable energy and sustainable technologies around the world.

Masdar has already invested in several renewable energy projects in the UK, including the 402MW Dudgeon offshore wind farm, and the 630 MW London Array wind farm.

Masdar CEO Mohamed Jameel Al Ramahi said: “Masdar and Octopus Energy share a common commitment to pioneering innovative clean energy solutions that disrupt and transform the energy market.

“As we expand our presence in the UK energy sector, through our £1bn investment in battery storage, Kraken will provide us with the flexibility we need to scale our business rapidly.

“Kraken’s experience and expertise in battery storage asset management will help us to maximize the value of our investments and support the UK’s ambitious energy transition goals.”