Masdar signs Octopus UK battery storage deal

May 11, 2023

Clean energy company Masdar has signed a framework agreement to licence Octopus Energy’s technology platform Kraken for the management of its UK battery storage portfolio.

The move will enable Masdar to “optimise and expand its energy trading capabilities in the UK,” a statement said.

The deal comes after Masdar committed to invest £1 billion in UK battery storage following its acquisition of London-based Arlington Energy in October 2022.

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