Iberdrola, the most innovative Spanish utility, the second in Europe and the fourth in the world with the largest volume of resources dedicated to R&D
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 second in Europe according to the European Commission's ranking.
In 2017, Iberdrola was the fourth energy company worldwide in terms of R&D investment, with a total of 246 million euros, a 17% plus more than in 2016. This figure has increased by 237% over the past ten 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 the International Startup program, the company's corporate venture capital initiative, investments are being made in this field to ensure the sustainability of the energy model.
'IBERDROLA INNOVATION MIDDLE EAST' TECHNOLOGICAL CENTER
The Chairman of Iberdrola, Ignacio Galán, and the CEO of Qatar Investment Authority, H.E. Sheikh Abdulla bin Mohammed bin Saud Al-Thani, opened on 7th March 2018 the Iberdrola Innovation Middle East Center, the new R&D hub developed by Iberdrola in Doha (Qatar).
Located at Qatar Science & Technology Park in Doha, the center aims at releasing new products and services for the digital utility, working at the intersection of energy and information and communication technologies.
During his speech, Ignacio Galán said: "As part of Iberdrola's commitment with Qatar, I'm pleased to inaugurate today the Iberdrola Innovation Center Middle East which, in line with Qatar National Vision 2030 objectives, is meant to become a technology benchmark for the energy industry through an open innovation program in partnership with our associates and universities. It will offer energy services to improve productivity and the efficiency of customers and consumers, and will offer technical training focused on smart grids."
Sheikh Abdulla highlighted during his speech their positive partnership with Iberdrola; being ranked as the electric company number one in Europe and fifth worldwide. "With QIA being a major shareholder at Iberdrola we would like to welcome their Innovation Middle East new technology hub and we are looking forward to more partnerships through the different companies that we are major investors in."
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.