Masdar and Octopus Energy sign new deal to manage battery storage in UK

Abu Dhabi’s clean energy company Masdar has signed a new agreement with Octopus Energy Group to manage its battery storage portfolio in the UK with the help of Octopus’s Kraken technology platform.

Masdar and UK-based Octopus will also assess joint participation possibilities in renewable energy and explore collaborative opportunities in renewable generation, the two companies said on Wednesday.

The new deal comes shortly after Masdar committed to investing £1 billion ($1.26 billion) in UK battery storage in March, following its acquisition of London-based Arlington Energy in October 2022.

“Masdar and Octopus Energy share a common commitment to pioneering innovative clean energy solutions that disrupt and transform the energy market, and as we expand our presence in the UK energy sector, through our … investment in battery storage, Kraken will provide us with the flexibility we need to scale our business rapidly,” said Mohamed Al Ramahi, chief executive of Masdar.

“Kraken’s experience and expertise in battery storage asset management will help us to maximise the value of our investments and support the UK’s ambitious energy transition goals.”

Masdar is active in more than 40 countries and has invested in or committed investments to projects worth more than $30 billion.

The company aims to grow its capacity to at least 100 gigawatts of renewable energy by 2030.

Masdar aims to grow its capacity to at least 100 gigawatts of renewable energy by 2030. Khushnum Bhandari / The National

Masdar has investments in renewable energy projects in the UK, including the 402-megawatt Dudgeon Offshore Wind Farm off the coast of Norfolk, and the 630MW London Array, one of the world’s largest wind farms.

Octopus Energy, which was valued at $5 billion after its last funding round in 2021, has grown on the back of its proprietary Kraken technology, a platform designed to promote smart grid use, increase efficiency and improve customer service.

Kraken, which uses algorithms to reduce suppliers’ and customers’ costs, has been licensed to more than 45 million accounts in 13 countries through deals with companies such as EDF Energy and Good Energy.

The company plans to expand into the Middle East, potentially setting up a technology centre in the region, its chief executive Greg Jackson told The National in January.

“I am seeing the Middle East, and particularly the UAE, as thought leaders in creating sustainable energy solutions,” he said at the time.

“We need to really start talking to potential partners about establishing a centre here to work together on the technologies that will help tackle climate change.”

The specs

Engine: 3.0-litre 6-cyl turbo

Power: 435hp at 5,900rpm

Torque: 520Nm at 1,800-5,500rpm

Transmission: 9-speed auto

Price: from Dh498,542

On sale: now

Persuasion

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The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Tips to keep your car cool

Place a sun reflector in your windshield when not driving
Park in shaded or covered areas
Add tint to windows
Wrap your car to change the exterior colour
Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
Avoid leather interiors as these absorb more heat

Iran's dirty tricks to dodge sanctions

There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.

1 Going Dark

A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.

2. Ship-to-Ship Transfers

A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.

3. Fake Destinations

Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.

4. Rebranded Barrels

Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.

* Bloomberg

Prop idols

Girls full-contact rugby may be in its infancy in the Middle East, but there are already a number of role models for players to look up to.

Sophie Shams (Dubai Exiles mini, England sevens international)

An Emirati student who is blazing a trail in rugby. She first learnt the game at Dubai Exiles and captained her JESS Primary school team. After going to study geophysics at university in the UK, she scored a sensational try in a cup final at Twickenham. She has played for England sevens, and is now contracted to top Premiership club Saracens.

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Seren Gough-Walters (Sharjah Wanderers mini, Wales rugby league international)

Few players anywhere will have taken a more circuitous route to playing rugby on Sky Sports. Gough-Walters was born in Al Wasl Hospital in Dubai, raised in Sharjah, did not take up rugby seriously till she was 15, has a master’s in global governance and ethics, and once worked as an immigration officer at the British Embassy in Abu Dhabi. In the summer of 2021 she played for Wales against England in rugby league, in a match that was broadcast live on TV.

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Erin King (Dubai Hurricanes mini, Ireland sevens international)

Aged five, Australia-born King went to Dubai Hurricanes training at The Sevens with her brothers. She immediately struck up a deep affection for rugby. She returned to the city at the end of last year to play at the Dubai Rugby Sevens in the colours of Ireland in the Women’s World Series tournament on Pitch 1.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

UAE currency: the story behind the money in your pockets

UAE currency: the story behind the money in your pockets

Profile

Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital

Sector of operation: Transport

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

Key findings of Jenkins report

Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."