UAE-based Masdar commits £1b to develop battery storage in the UK

The company will use the technology platform Kraken to manage the batteries. 

Masdar has committed to invest some £1b to develop a battery storage system in the United Kingdom. 

The move will enable Masdar to optimise and expand its energy trading capabilities in the UK, helping to accelerate the rollout of renewables across the country and supporting the country in achieving its net-zero targets, the company noted. 

Read more: Masdar, IRENA to launch roadmap to triple RE capacity by 2030

The company has also signed a framework agreement with Octopus Energy to use its technology platform Kraken for managing the batteries. 

This will allow Masdar to control the performance of its batteries in real-time.