INNOVATION IN OUR BUSINESSES
We are the leading private utility in the world by investment in R&D
Innovation is a strategic variable for the Iberdrola group and constitutes the main tool for guaranteeing the company's sustainability, efficiency and competitiveness.
Thanks to a proactive strategy that cuts across all the company's business units and geographical areas, today Iberdrola is the private utility that invests most in R&D worldwide, according to data from the report The 2021 Industrial R&D Investment ScoreboardEnlace externo, se abre en ventana nueva. by the European Commission.
Iberdrola's vision in terms of R&D consists of promoting the development of innovative and sustainable technologies, aligned with the fundamental vectors of the transformation of the energy sector, decarbonisation and electrification of the economy. This will lead to an improvement in our processes, operating conditions and the safety of our facilities, while also reducing the environmental impact.
The group's strategy has been backed by the European Investment Bank (EIB), which has provided it with 100 million euros in financing.
This will include R&D in renewables, the production of green hydrogen and the development of floating wind and photovoltaic installations. It will also include the integration of clean energy into the system, through pumped hydroelectric plants and batteries. Iberdrola will also develop new solutions for customers, promoting energy efficiency and a more personalised service, as well as enhancing electric mobility.
In this area, it will seek to enhance digitalisation, automation and cybersecurity, having committed to achieve, by 2022, 75 % of digitalised grids and 1,800 cybersecurity assessments per year.
In 2021, Iberdrola invested in R&D 337.5 million euros, with an accumulated investment of more than 2 billion euros in the last decade, after increasing resources in this area by 15 % compared to the previous year. These resources have been allocated primarily to projects related to renewable energy, smart grids, digital transformation, green hydrogen, storage and the development of customised solutions for our customers.
LEADERS IN SUSTAINABLE INNOVATION
The main innovation activities in the field of Renewables focussed on improving the efficiency of our working assets and associated processes, encouraging the integration of renewable energy —through different initatives linked to the field of energy storage— and reducing costs in the design and construction of the installations, principally in the field of offshore marine wind power in order to limit risks and guarantee their competitiveness.
Innovation activities in the Networks area are mainly concentrated on the development and expansion of smart grids, a technological evolution of the power distribution system that combines traditional with modern monitoring technologies, information systems and telecommunications.
Together with the digitisation of the distribution network, notable efforts have been made to offer a wide range of services to customers.
R&D Generation and Retail
R&D efforts in the Generation and Retail area are designed to bring about new developments that promote the flexibility, operational efficiency and safety of facilities, as well as reduce our environmental impact by implementing disruptive technologies and reducing emissions.
Work is also being carried out on the design of new products that ensure an efficient, fast and high quality service and which improve the customer's experience.
R&D in other areas
The Systems area continues honouring its commitment to developing innovative projects that make it possible to create value for the different areas of the company, enabling them to gain a competitive edge in the market and increase their productivity and efficiency in all the countries where we have a presence.
Some of the projects have received funding from official bodies. Access to outstanding information about all of them.
The provision of financial resources is aimed for the most part at projects relating to renewable energies, smart grids, digital transformation and developing tailored solutions for customers. The majority of R&D effort is based on five broad pillars:
entrepreneurs and suppliers
The company is also collaborating with a number of universities and institutions in the universalisation of energy services, as well as in driving knowledge in specific scientific, energy and IT areas thanks to an open and de-centralised R&D management model.