According to the company’s statement on Wednesday, the agreement will help strengthen and expand Masdar’s energy business capabilities in the UK, and help accelerate the deployment of renewable energy sources in the country and will support its goals to achieve climate neutrality.
The move follows Masdar’s commitment to invest £1 billion ($1.26 billion) in the UK’s energy storage battery sector, following its acquisition of London-based Arlington Energy. in October 2022.
Through the use of the Kraken platform, Masdar will be able to monitor the performance of battery systems in real time, which contributes to obtaining the highest yields, in addition to its contribution to the storage and release of electrons according to the sustainability best practices.
Masdar chose the advanced technology platform, Kraken, for its low-cost, high-performance and smarter energy system. This platform will enable improved analysis, data and real-time monitoring of all distributed energy sources, including energy storage systems.
The platform has secured numerous contracts to manage more than 5 gigawatts of energy across 38,000 green power assets in 10 countries, and the platform aims to manage 100,000 renewable energy projects and reach 6 gigawatts of capacity of production by the end of 2023.
Masdar and Octopus Energy will evaluate more possibilities and prospects for joint cooperation in the field of renewable energy sources, as well as explore cooperation opportunities in the field of power generation.
Mohammed Jamil Al Ramahi, CEO of Masdar, said: “Along with our expansion of our energy business in the UK and our investment in energy storage battery projects worth £1 billion, the Kraken platform will give us the flexibility to scale our business in a short period of time.
Masdar’s investment in energy storage batteries in the UK is part of its overall commitment to invest in renewable energy projects and sustainable technologies around the world. The company invests in a number of renewable energy projects in the UK, including the 630MW London Array, one of the largest offshore wind farms in the world, and the 402MW Dudgeon Offshore Wind Farm off the coast of Norfolk.
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