Iberdrola, the number one innovative utility in Spain and third in Europe
Innovation is Iberdrola's main tool to guarantee its sustainability, efficiency and competitiveness.
MAIN R&D PROJECTS
As a result of an unwavering commitment to innovation, Iberdrola is currently the most innovative utility in Spain and third in Europe according to the European Commission's ranking.
In 2016, Iberdrola was the fourth energy company worldwide in terms of R&D investment, with a total of 211 million euros, a 5.5% plus more than in 2015. This figure has increased by 120.9% over the past seven years, proving the company's commitment to this field.
Financial resources are mainly allocated to projects related to smart grids, clean generation, offshore wind power, digitisation, new technologies and business models.
R&D efforts comprise three main components:
- Efficiency: continuously optimising operations, managing the life of facilities and equipment, reducing operating and maintenance costs, and reducing environmental impact.
- New original and competitive products and services that adapt to an increasingly global market and aim to meet the needs of customers using digitisation, automation and tailor-made solutions.
- Disruptive technologies and business models that enable us to take on the energy challenges of the future and adapt ourselves to the changes taking place in the electricity sector. Through Iberdrola Ventures Perseo, the company's corporate venture capital initiative, investments are being made in this field to ensure the sustainability of the energy model.
COLLABORATION WITH SUPPLIERS
The company also implements other programmes to further R&D through partnerships with its partners, for example, the Innovation with suppliers programme, which pursues the following main objectives:
- Simplifying access to financing mechanisms.
- Encouraging the joint creation of companies (supplier spinoffs).
- Promote innovative buying for SMEs.