UAE’s Masdar is to use Octopus Energy’s technology platform Kraken to manage its battery portfolio in the UK.
The agreement comes soon after Masdar committed to invest £1 billion in UK battery storage, following its acquisition of London-based Arlington Energy in October 2022.
Kraken will help Masdar control the performance of its batteries in real-time, optimizing them for maximum returns.
Masdar said it chose the platform for its demonstrated benefits of low cost, maximum efficiency and its ability to enable a smarter energy system. Kraken allows for extended analytics, data and real time monitoring for a range of distributed energy resources, including battery storage. It is currently contracted to manage over 5 GW across 38,000 green energy assets in ten countries and is targeting management of 100,000 devices and 6 GW of energy capacity by the end of 2023.
Masdar and Octopus Energy will also assess joint participation possibilities in renewable energy and explore collaborative opportunities in renewable generation. Masdar has already invested in UK projects including the Dudgeon and London Array offshore wind farms.