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Innovation: strategy and management model

Innovation is IBERDROLA’s primary tool for guaranteeing the Company’s sustainability, efficiency, and competitiveness. Efforts in R&D seek to optimize operating conditions, improve safety and reduce environmental impact. Also, through innovation, IBERDROLA looks for new business opportunities which may emerge in the energy sector.

In 2015 the company has driven the development of initiatives related to smart grids, clean technology, offshore wind and new technologies and business models. The global leadership in renewable energies has been recognized with the 2015 National Innovation and Design Award in internationalization category.

As a result of its continued commitment to innovation, IBERDROLA has been recognized as the most innovative utility in Spain and fourth in Europe according to the European Commission ranking. In 2015, the Group’s R&D activities accounted for 200 million euros, 17% more than in the previous year.

Precisely, IBERDROLA´s innovation policy [PDF] establishes the principle in order to promote the strategic variable that affects all the businesses of the Group and all the activities it carries out. Innovation leadership in the energy industry is based around sustainable development, development of renewable energy, and emerging technology as drivers of value creation and social contribution.

Specific Programmes

The company also implements programs to develop R&D through special partnerships and suppliers.

IBERDROLA Ventures - PERSEO corporate venture capital programme invests in disruptive technologies and business to ensure the sustainability of the energy model. Also, the Company develops other initiatives with the goal of fostering the collaboration with technological partners and the investment in projects with a high social component, for example, Open Innovation Ventures.  The first activity of this programme has been the establishment of GDES Tech4Services, an agreement between IBERDROLA and the technological partner Grupo Dominguis in order to develop new technologies for the operation and maintenance in the electricity sector.

IBERDROLA Innovation Programme for Suppliers focuses on three areas: enabling access to funding mechanisms for suppliers, fostering the set-up of joint companies (spin-offs with suppliers) and innovative purchases from SMEs. The Ministry of Economy and Competitiveness and IBERDROLA will be sharing best practices in innovative purchase procedures and opportunities for joint investments under the INNVIERTE programme.

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