UAE-based energy company Masdar has entered into a framework agreement with British renewable energy company Octopus Energy to strengthen its battery storage portfolio in the UK.

Masdar will utilize Octopus Energy's Kraken platform to manage the storage portfolio. Masdar is looking to optimize and expand its energy trading capabilities, which could help speed up the rollout of renewable energy projects in the UK. It will also contribute to the country's goal of net zero emissions.

Masdar previously pledged to invest £1bn in battery storage in the UK after it bought London-based Arlington Energy in October 2022. Kraken is an energy technology platform based on data and machine learning capabilities. It's built around a scalable, cloud-based architecture that runs continuous deployment. It is tailor-made for the energy industry as it automates much of the supply chain and enables a higher level of customer self-service.

Kraken currently manages 5GW of 38,000 green energy assets across 10 countries. Octopus Energy aims to deploy Kraken on 100,000 devices with a capacity of 6GW by the end of 2023. Kraken will enable Masdar to control the performance of its batteries in real time and optimize them for maximum return, storage and discharge in the most environmentally friendly manner.

Mohamed Jameel Al Ramahi, Chief Executive of Masdar, said: "Masdar and Octopus Energy share a commitment to pioneering innovative clean energy solutions that disrupt and transform the energy market, as we expand our impact in the UK energy sector with our £1 billion investment in batteries With power storage, Kraken will give us the flexibility we need to scale our business quickly.

Kraken's experience and expertise in battery storage asset management will help us maximize the value of our investment and support the UK's ambitious energy transition goals. The two companies also agreed to jointly engage and explore opportunities for collaboration in the renewable energy and power generation sectors.

Octopus Energy Group founder and CEO Greg Jackson said Masdar has become one of the world's leading investors in renewable technologies. We are delighted to be working with them as they make their big move into batteries, the acquisition of Arlington and this £1 billion announcement. Combining their infrastructure expertise with Kraken's world-leading technology, we can make a real difference and drive cleaner, cheaper and safer energy at scale.Editor/XingWentao