Iberdrola’s Commitment to Innovation Garners Second Consecutive Recognition from European Commission

Ignacio Galán, Executive Chairman of Iberdrola, at an offshore wind farm.

(IN BRIEF) Iberdrola, a major energy company, has received recognition as the world’s leading private utility for investment in innovation and development, marking its second consecutive year of achievement in this regard. The European Commission’s report, ‘The 2023 Industrial R&D Investment Scoreboard,’ acknowledged Iberdrola’s commitment to innovation and development, with an investment of over 360 million euros in 2022. The company views innovation as a strategic element for ensuring sustainability, efficiency, and competitiveness. Iberdrola plans to double its investment in innovation, development, and research (R&D&I) by 2030, aiming to surpass 4 billion euros. These resources will be directed towards projects in renewable energy, smart grids, digital transformation, green hydrogen, and customized solutions for customers, with a focus on accelerating decarbonization and fostering sustainable job creation. Iberdrola has been instrumental in pioneering solutions that drive decarbonization, such as smart grids and offshore wind energy, while also expanding into green hydrogen and energy storage. The company continues to explore new technologies for wind turbine blade recycling and agrovoltaics, combining renewable energy with agriculture. Furthermore, Iberdrola places a strong emphasis on fostering a culture of creativity and knowledge through its Innovation and Training Campus. Additionally, the company offers innovative products and services to customers, including Big Data and Artificial Intelligence solutions, enabling them to reduce costs, minimize environmental impact, and maintain control over their energy choices.

(PRESS RELEASE) BILBAO, 15-Dec-2023 — /EuropaWire/ — Iberdrola, S.A. (BME: IBE), with more than 170 years of history, is a global leader in clean energy, grids and storage, a company that is today more solid, sustainable and diversified than ever, continues its unwavering commitment to innovation, development, and research (R&D&I) by being acknowledged for the second consecutive year as the world’s leading private utility in terms of investment in Innovation and Development. The accolade comes from the European Commission’s report titled ‘The 2023 Industrial R&D Investment Scoreboard.’ Iberdrola’s dedication to R&D&I is evident with an investment exceeding 360 million euros in 2022.

The European Commission’s extensive analysis encompassed 2,500 of the world’s largest companies and 1,000 of the largest in Europe. Iberdrola, chaired by Ignacio Galán, recognizes innovation as a strategic cornerstone for the Group, essential for ensuring sustainability, efficiency, and competitiveness.

By embracing clean and efficient technological solutions, Iberdrola has become a catalyst for an electrification-based energy model. The company has set its sights on exceeding 4,000 million euros in R&D&I investment by 2030, doubling its commitment in this domain by the end of the decade.

These resources will predominantly fuel projects related to renewable energy, smart grids, digital transformation, green hydrogen, and customized solutions for customers. The overarching goal is to accelerate decarbonization, addressing the climate crisis while enhancing energy security, competitiveness, and sustainable job creation across the value chain.

FORGING A PATH IN INNOVATION FOR THE ENERGY TRANSITION Iberdrola has led the development of decarbonization solutions, such as smart grids, exemplified by the Global Smart Grids Innovation Hub in Bilbao. This hub, with over 80 collaborating entities, including suppliers, universities, technology centers, and startups, serves as a hub for innovation. It has already identified more than 120 projects worth 130 million euros, focusing on grid digitalization, renewable integration, electric vehicle deployment, and energy storage systems.

In the realm of networks, digitalization and artificial intelligence systems continue to be integrated into transmission and distribution infrastructures to enhance security and supply quality.

Iberdrola has also significantly expanded its offshore wind energy investments, with operational and advanced construction assets in the United States, the United Kingdom, France, and Germany. Moreover, it is pioneering wind turbine deployment in larger and deeper offshore areas with higher wind potential.

The company’s commitment to pumped hydro technology, the most efficient large-scale energy storage system, has been reinforced with the Támega gigabattery, one of Europe’s largest projects in the last 25 years.

Iberdrola leads the development of green hydrogen derived from renewables and its by-products, such as ammonia and green methanol, unlocking new frontiers of decarbonization in hard-to-electrify sectors. The company boasts the largest industrial plant for these purposes on the continent.

Iberdrola is also exploring innovative solutions for wind turbine blade waste recycling and recovery, as well as agrovoltaics, which combines renewable energy with agriculture and livestock practices.

In fostering a culture of creativity, Iberdrola’s Innovation and Training Campus in San Agustín del Guadalix (Madrid), a 180,000 m2 complex with state-of-the-art facilities, serves as the global center for knowledge, innovation, and employability, training nearly 13,000 individuals annually. It underscores Iberdrola’s commitment to technology, R&D, and collaboration with technology centers to lead the energy transition, green economic recovery, and employment, benefiting young professionals and industry experts in future-oriented sectors.

The company also continues to introduce competitive and intelligent products and services for customers, including Big Data and Artificial Intelligence solutions. With offerings in self-consumption, energy management, electric vehicles, and heat pumps, Iberdrola empowers customers to reduce costs, minimize environmental impact, optimize comfort, and retain control over their energy choices.

Media contacts:

Tel: +34 91 784 32 32
comunicacioncorporativa@iberdrola.es

SOURCE: Iberdrola