Innovation Report

2020 2022

Innovation is a strategic pillar of the company, a pioneer in the commitment to renewable energies, convinced that energy generation must be carbon-free. At Iberdrola, we are committed to the creation of an innovative ecosystem and a new decarbonised, digitalised and sustainable model.

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Ignacio S. Galán photo
01. Letter from the Chairman

Ignacio S. Galán

It is during times of uncertainty such as these that the resilience and adaptability of organisations is tested. But, faced with the temptation to focus on short-term solutions, it is now more than ever necessary to reaffirm our determination to seek new paths that will make us stronger and better prepared to move forward. The ability to innovate is therefore an asset of enormous value in shaping this new future and anticipating new, as yet unknown challenges.

The complexity and globalisation of business activity means that companies are particularly conditioned by this reality. For this reason, strengthening an internal culture based on innovation has become an unavoidable duty for companies in all sectors, and especially for those most exposed to technological change.

This Innovation Report includes the most important actions and projects carried out by the group in the field of R&D&I in the 2019-2022 period, in which we have invested more than €1,200 million in new renewable energies, smart grids, storage and green hydrogen..

This has consolidated our position as the private utility company that allocates the most funds to R&D worldwide, according to the European Commission's classification.

As a result of this effort, we are leading the development of solutions for decarbonisation such as smart grids, with initiatives such as our Global Smart Grids Innovation Hub. Located in Bilbao,the centre has become an international benchmark from which we are promoting more than 120 projects in collaboration with dozens of companies and institutions around the world. In the field of grids, we also continue to incorporate digitalisation and artificial intelligence systems in transmission and distribution infrastructures with the aim of continuing to increase the security and quality of supply.

In renewables, of particular note is the boost given in recent years to offshore wind energy, of which we already have assets in operation and under advanced construction in the United States, United Kingdom, France and Germany, and we have others under development, both fixed and floating, in these same countries as well as in Sweden, Poland, Norway and Japan.

At the same time, we are committed to pumped hydroelectric storage, a technology in which we have recently inaugurated the Támega gigabattery, one of the principal European projects in the last 25 years; or to green hydrogen, a new energy vector in which Iberdrola already has the largest plant for industrial use on our continent.

And, of course, we have continued to launch new competitive, smart products and services for our customers, integrating technologies such as blockchainand big data.

All these initiatives are also the result of our commitment to the creation of entrepreneurial ecosystems, particularly with start-ups. Thus, in 2022 we promoted the first large technology fund to promote sustainability and the transformation of the electricity sector in Spain, Andrómeda, an ideal complement to our Perseo programme, through which we have already invested €100 million in innovative and cutting-edge companies such as Wallbox.

One of the main aims of our training programmes is also to generate a culture based on creativity. Our Research and Training Campus, inaugurated by Their Majesties the King and Queen of Spain, is enabling us to catapult new ideas in collaboration with prestigious institutions around the world. With them we have formed the Iberdrola U University Programme, a network made up of tens of thousands of students, researchers and professors from centres that are as prestigious as Yale University and the Massachusetts Institute of Technology (MIT) in the United States; the University of Strathclyde in the United Kingdom; the University of Comillas in Spain; the Tecnológico de Monterrey in Mexico; the Federal University of Rio de Janeiro in Brazil; and the Hamad Bin Khalifa University in Qatar.

With this report, we aim to showcase everything our group has achieved in recent years, but also to reaffirm a commitment that is strategic for Iberdrola. R&D&I is synonymous with the future, with sustainability, productivity and quality, and will therefore continue to be an essential variable in our activity. This is because thinking ahead is the best guarantee of success, and also the best way to maximise our contribution to society; the ultimate goal of any business project.

02. Figures

  • 0.0M R+D+I investment in 2021
  • >€0.000M R+D+I investment in the last decade
  • 0 On-going innovation projects

  • Iberdrola U Logo Universities Programme

    13 Chairs

    500K Connected members

    6 Countries


    €100M Invested in 10 companies in the portfolio

    Wallbox logo Valued at more than €1,000M

    + 7.500 Start-ups in our ecosystem

  • Global Smart Grids Innovation Hub logo Global Smart Grids Innovation Hub

    120 Projects for their future development

    For a value of €130M per year

    80 Collaborating entities and companies

03. Strategy

We are the world's leading private energy company in terms of R&D&I investment, according to the European Commission.

We promote the development of innovative and sustainable technologies: promoting the decarbonisation of generation, through the integration of renewable energies, boosting smart grids and the electrification of demand in transport, buildings and industry. In addition, we are committed to new production systems, such as green hydrogen.

  • More and smarter renewable energy Decarbonisation and electrification
  • More and smarter customer solutions Increased customer connectivity
  • More and smarter networks Technological progress
  • Planned investment in innovative initiatives
  • Until 2025 0,000 MILL
  • Until 2030 0,000 MILL
  • Five main lines of action
  • New products and services
  • Culture of innovation and talent
  • Disruptive technologies
  • Digitalisation and automation
  • Innovation with start-ups, entrepreneurs and suppliers
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04. Innovative Ecosystem

We promote training and research in innovative and sustainable projects by collaborating with external entities.

Iberdrola U, the Iberdrola Universities Programme, aims to support the transfer of knowledge, talent and social contribution.

It strengthens the link between universities and companies with the goal of teaching young talents the skills to develop innovative solutions to the energy sector’s challenges. Through various global agreements and other collaborations with universities, Iberdrola U currently connects 500,000 members: students, scholarship holders, entrepreneurs, professors, researchers and Iberdrola employees form a network that promotes training, entrepreneurship and research.

  • Iberdrola U logo
  • 13 global agreements and other collaborations with universities Iberdrola U connects
  • 500.000 members
United States flag United States Mexico flag Mexico Brazil flag Brazil Spain flag Spain Qatar flag Qatar United Kingdom flag United Kingdom

More than 15 years committed to start-ups and business innovation as a brand value.

Iberdrola's start-up programme - PERSEO - aims to facilitate the group's access to the technologies of the future while promoting the development of a global ecosystem of start-ups in the electricity sector with a focus on sustainability. Iberdrola has set aside €125 million for this purpose, invested through its portfolio of investments in start-ups, its PERSEO Venture Builder unit, pilot projects and the launch of the Iberdrola Start-up Challenge.

History of PERSEO

  • 2022 Launch of Andromeda
  • 2020 Launch of Venture Builder programme
  • 2016 Creation of the programme Challenges and Pilots
  • 2013 First investment in a Silicon Valley company (STEM)
  • 2009 First investment in PERSEO
  • 2008 Start of PERSEO
  • €100M in start-up investments 10 companies in the portfolio

  • Challenges – Open Innovation Tool 10 challenges launched per year +500 proposals received each year año

  • €40M for the Venture Builder programme To create and invest in companies

  • +7,500 start-ups in our ecosystem increasing by 300 per year

  • Pilot projects Access to technology in real cases +25 pilotos real pilots per year

  • Andormeda Sustainable Tech Fund First large technology fund for energy transition €300M to invest in scale-ups


05. Iconic Projects

We are committed to disruptive technologies that enable us to meet the challenges of the new energy system.

We are moving towards a decarbonised model in which greenhouse gas emissions caused by energy consumption must be phased out so that citizens can meet their energy needs in a sustainable manner, at a competitive price and with security of supply. We are in a strategic position thanks to our ability to integrate renewable energies.

In the new energy model, smart grids will play a key role as an integrating element between generation and demand, interconnecting different sectors and adding new actors in energy production. The digitisation of these grids will make it possible to offer new products and services to customers, improve the quality of supply and facilitate the integration of renewable energies, providing flexibility to the electricity system through technologies such as Big Data, IA, machine learning, cloud computing, IoT and Blockchain.

The transition to a carbon-neutral economy by 2050 will require significant efforts across all sectors, as well as the use of all available technologies that are either emission-free or carbon-neutral. Through the electric vehicle and the heat pump emissions from end-uses such as transport, heating and cooling can be eliminated, giving the consumer a key role in the energy transition through self-consumption and energy management solutions. Green hydrogen production will also drive this goal by enabling carbon-neutral fuels to be obtained in gas or liquid form.