Iberdrola announces €4.8 billion investment in digital transformation between 2018 and 2022

Panel Woman and Technology, Digital Summit 18 Iberdrola

  • Today (17/10/2018) and tomorrow the company is holding its fourth Digital Summit, at its San Agustín del Guadalix training campus (Madrid)
  • Ignacio Galán, the group’s chairman, stated that “digitalisation is one of our strategic pillars: it is providing new opportunities in all business areas, helping to reduce costs and creating value for society”
  • This latest Digital Summit will be attended by top-level executives, such as Sarah Harmon, Director of Linkedin Spain and Portugal; Susana Voces, General Manager of eBay Italy and Spain; Juan Galiardo, Director of Uber Spain; and Ana Alonso, Director of Strategic Sales for Western Europe at Microsoft

MADRID, 19-Oct-2018 — /EuropaWire/ — Iberdrola plans to invest 4.8 billion euros in digital transformation between 2018 and 2022. This was announced by the company on the occasion of the company’s fourth Digital Summit, held today and tomorrow at its San Agustín del Guadalix training campus (Madrid).

Ignacio Galán, the group’s chairman, stated that “digitalisation is one of our strategic pillars: it is providing new opportunities in all business areas, helping to reduce costs and create value for society”.

Iberdrola will focus its investment effort on improving the operation and maintenance of its assets by using data analytics and artificial intelligence and increasing the availability of its generation plants. The company also plans to have installed 20 million smart meters in Spain, the United Kingdom and the United States by 2022.

In addition, and as part of its commitment to digitalisation, Iberdrola will automate 100% of its high voltage network in the United States and increase the automation of its low voltage lines by 50%. This modernisation of its transmission and distribution assets will allow the company to detect possible frauds, losses and network failures as early as possible.

The digitisation process will also offer improvements for customers, as it will allow them, for example, to manage their electricity consumption from mobile phones (Energy Wallet) or to schedule charging their electric vehicles in advance (Smart Mobility).

FIRST LEVEL SPEAKERS: LINKEDIN, GOOGLE, UBER, EBAY, ETC.

These new options are being presented at Iberdrola’s Digital Summit where, company directors, led by Chief Information Officer (CIO) Fernando Lucero and other senior managers from leading technology companies are participating, sharing best digitisation practices in their respective fields.

These include, among others, Sarah Harmon, Director of Linkedin Spain and Portugal; Susana Voces, Director General of eBay Italy and Spain; Juan Galiardo, Director of Uber Spain; Ana Alonso, Director of Strategic Sales for Western Europe at Microsoft; Sofia Benjumea, Director of Campus Madrid at Google; Nuria Oliver, Director of Data Science Research at Vodafone, and Hans van Grieken, Director of EMEA Technology Research at Deloitte.

As part of its digitalisation plan, Iberdrola has also set itself the objective of carrying out 75 innovation projects a year, with the aim of continuing to be the most innovative Spanish utility and the third in Europe, according to the European Commission’s classification.

The company will also continue to support disruptive ideas in the energy sector through its 70 million euro PERSEO-Start ups Programme. The aim of this initiative – in which 55 million euros has already been invested – is to facilitate Iberdrola’s access to the technologies of the future and to promote the creation and development of a global and dynamic ecosystem of technology companies and entrepreneurs in the electricity sector.

ABOUT IBERDROLA

Iberdrola is a global energy leader, the biggest producer of wind power and one of the five top power companies in the world in terms of stock market capitalisation. The group is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), the USA (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €110 billion, it posted revenues of €31.26 billion and a net profit of €2.8 billion in 2017.

Iberdrola is leading the transition towards a sustainable energy model through its investments in energy from renewable sources, smart grids, large-scale energy storage and digital transformation in order to offer its customers the most advanced products and services. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for the sustainability of the planet. Iberdrola is listed on numerous international sustainability indices, among them the Dow Jones Sustainability Index and FTSE4Good, and it is considered one of the most sustainable electricity utilities in the world.

SOURCE:  Iberdrola, S.A.

GLOBAL CORPORATE COMMUNICATION DIRECTION

Juan Llobell
Tel: +34 91 784 32 32
comunicacioncorporativa@iberdrola.com

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