Iberdrola Pioneers Digital Solutions for Sustainable Grid Development and Electrification Strategy

Iberdrola’s main growth driver between 2024 and 2026 will be its electricity grids.

(IN BRIEF) Iberdrola is focusing on enhancing its electricity grids as a primary growth area from 2024 to 2026, investing heavily to integrate digital solutions through its Perseo startup program. These innovations, including machine learning and algorithms, aim to forecast and optimize energy demand and generation scenarios while supporting electrification and decarbonization efforts. The company plans significant investments in grid infrastructure across key markets to bolster energy efficiency, competitiveness, and sustainability.

(PRESS RELEASE) BILBAO, 14-Jun-2024 — /EuropaWire/ — Iberdrola announces a strategic focus on advancing its electricity grids as a primary growth driver from 2024 to 2026, investing significantly to bolster infrastructure that connects industrial and residential demand with renewable energy generation. The company emphasizes the unstoppable trend of electrification across sectors, compelling businesses and individuals to shift towards cleaner energy models.

Through its startup initiative, Perseo, Iberdrola plans to integrate digital solutions utilizing machine learning and algorithms into its grids. These innovations aim to model new demand and generation scenarios, optimize self-consumption, storage capabilities, and enhance flexibility in grid access. The goal is to forecast operational behavior and strategically plan investments to ensure robust network capacity amidst evolving electricity distribution needs.

Potential partners are encouraged to align with Iberdrola’s priorities, focusing on current and emerging aspects like electricity generation, storage technologies, electric mobility, heat pumps, and the decarbonization of industrial processes. Future demands such as digital electrification and advancements in AI and green hydrogen are also pivotal considerations.

Participants in this initiative stand to gain collaboration opportunities with Iberdrola or its affiliates, technical support, and potential investment opportunities. The winning project will benefit from collaboration with Iberdrola’s Networks specialists and integration into the Global Smart Grids Innovation Hub, facilitating access to resources and commercial scaling opportunities.

Iberdrola’s commitment to electrification and sustainability drives its substantial investment of EUR 21.5 billion in networks, with a targeted asset expansion to EUR 54 billion by 2026. This investment will bolster grid capabilities in key markets including the United States, United Kingdom, Brazil, and Spain, supporting energy self-sufficiency, decarbonization, efficiency, and business competitiveness.

Since its inception, PERSEO has invested over EUR 200 million in startups fostering energy sector sustainability through electrification and decarbonization initiatives. The Venture Builder program, launched in 2020 with EUR 40 million, aims to create innovative business models supporting difficult-to-decarbonize sectors and promoting circular economy solutions.

The key to electrification

Iberdrola’s plan is to allocate €21.5 billion to networks – two-thirds of the total investment planned from 2024 to 2026 – to increase these assets to €54 billion by the end of 2026 from the current €43 billion.

The amount previously mentioned will be used to expand and strengthen networks in the United States, the United Kingdom, Brazil and Spain. For the company, electrification is unstoppable, given the need to increase energy self-sufficiency, decarbonisation, efficiency and competitiveness of companies.

The driver of energy startups

Since its creation in 2008, PERSEO has invested over €200 million in startups that develop innovative technologies and business models, focusing on those that improve the sustainability of the energy sector through greater electrification and decarbonisation of the economy. The programme has focused its actions on the analysing business opportunities and collaboration with tech startups and emerging companies around the world.

Through PERSEO, Iberdrola launched the Venture Builder programme in 2020 with €40 million for the creation of new business models aimed at supporting electrification in sectors that are difficult to decarbonise and the development of circular economy solutions, among others.

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SOURCE: Iberdrola


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