Masdar chooses Octopus solution for UK battery sites

May 11, 2023 11:31 AM ET
  • Both have authorized a framework agreement to license the Kraken modern technology platform
Masdar chooses Octopus solution for UK battery sites

Worldwide energy tech group Octopus Energy has actually authorized a framework agreement with Masdar to license Octopus' innovation platform Kraken to flexibly handle its battery storage portfolio in the UK.

The agreement was authorized between Mohamed Jameel Al Ramahi, president of Masdar (envisioned: right), and also Greg Jackson, founder and president of Octopus Energy Group (visualized: left), at the UAE Climate Tech Forum.

The step will certainly make it possible for Masdar to optimise and increase its energy trading capabilities in the UK, helping to speed up the rollout of renewables across the nation and also supporting the nation in achieving its net-zero targets, it claimed.

This comes closely after Masdar dedicated to spend ₤ 1bn in UK battery storage space, following its purchase of London-based Arlington Energy in October 2022.

By using Kraken, Masdar will certainly have the ability to control the efficiency of its batteries in real-time, optimizing them for maximum returns.

It will additionally enable them to store as well as discharge electrons in the greenest possible way, Masdar included.

Kraken enables prolonged analytics, data and live keeping track of for a whole variety of distributed energy resources (DERs), consisting of battery storage.

It is currently contracted to take care of over 5GW throughout 38,000 green energy assets in ten nations.

The platform is targeting management of 100,000 devices as well as 6GW of energy capacity by the end of 2023.

Masdar and also Octopus Energy will certainly additionally assess joint participation possibilities in renewable energy and check out collective opportunities in sustainable generation.

Al Ramahi stated: "Masdar and also Octopus Energy share a common commitment to pioneering ingenious clean energy solutions that interrupt as well as transform the energy market, and also as we expand our existence in the UK energy market, via our ₤ 1bn investment in battery storage space, Kraken will offer us with the versatility we require to scale our company quickly.

" Kraken's experience and also competence in battery storage asset management will help us to make the most of the value of our investments and also support the UK's enthusiastic energy transition goals."

Jackson included: "Masdar has actually established itself as one of the leading financiers in renewable modern technologies worldwide.

" As they step into batteries in a large way - the acquisition of Arlington as well as this ₤ 1bn statement - we are delighted to companion with them.

" Collaborating with their facilities proficiency as well as Kraken's world-leading innovation, we can make a genuine distinction - driving cleaner, less expensive and much more protected energy at scale."

Source:
renews.biz

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