Iberdrola SA - Enterprise Tech Ecosystem Series

Iberdrola SA - Enterprise Tech Ecosystem Series

Summary

Iberdrola SA (Iberdrola) is an energy utility company. It constructs, operates, and manages power generation plants, transmission and distribution facilities, and other assets. The company produces electricity using conventional and renewable energy sources. Iberdrola also trades electricity and gas in wholesale markets; and retails electricity, gas, and other related products and services. It retails energy to residential, commercial, industrial, institutional, and other customers. The company operates in Europe, North America, South America, and other regions.

Through its R&D&I program, Iberdrola focuses on optimization of its operating conditions, minimizing the environmental impact, and improving safety. R&D&I initiative established two main objectives: creating value through international technology projects and building a common innovation framework for its global business units through R&D&i Management Benchmark. The international technology projects include Perseo Venture Capital program, Supplier Innovation Program, MeteoFlow, and Qatar Technology Center. R&D&i Management Benchmark is responsible for coordinating and structuring all of the company’s technology activities, and standardization of procedures that provides scalability of projects to other geographies.

Iberdrola operates Accelerator Project to encourage its employees to submit and build upon innovative ideas through internal pilot projects that have the potential to contribute in the company’s mission to become the largest global energy utility. The project aims to identify and cater to the new market as well as business demands. During 2017-18, it launched three other initiatives: Networks 2.0, Renewables Accelerator Programme, and Accelerator for Customer.

In March 2018, Iberdrola launched Innovation Middle East Center at Qatar’s Science & Technology Park to focus on the development of smart grids and distributed renewable energy solutions. It is a research and development unit focused on delivering innovative products and services for digital utility and serves as a regional base for Iberdrola’s activity in Middle East. Innovation Middle East Center operates in collaboration with Qatar Investment Authority’s (QIT) subsidiary Qatar Holding.

In April 2020, Iberdrola together with other Spanish energy companies like Red Eléctrica, Enagas, BP, Acciona, EIT InnoEnergy, and CLH launched Positive Energy+ initiative to support start-ups providing solutions in the areas of mobility, telecommunications, digitization, and environmental sustainability. The initiative is targeting companies whose solutions have the potential to be developed and implemented within a year and can relieve the social or economic impact of COVID-19 in Spain.

This report provides insight into Iberdrola SA's digital activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope

• Neoenergia, Iberdrola’s Brazilian subsidiary, operates the Elektro mobile app that allows customers to monitor their energy consumption, manage payments, and access invoices. Iberdrola Ireland also operates a mobile app to allow users to view their bills and payment history, submit meter readings, and provides 24/7 customer support. Iberdrola Spain provides Smart Mobility Hogar app that allows customers to remotely control their charging points for electric vehicles, view their energy consumption history, gain transparency into their battery performance, and review the costs incurred.
• Iberdrola has a large installed-base of smart meters at customers’ business as well residential premises in Spain, UK, and US. The smart meters allow customers to monitor their energy consumption in monetary terms, and prepaid or post-paid bill payments. Smart meters allow Iberdrola to calculate the energy demand and manage supply efficiently.
• Iberdrola is employing big data and advanced analytics to develop new solutions that help them in streamlining operations and enhance the efficiency. The company has incorporated big data into its MeteoFlow system, the company’s product that predicts the production of renewable energy to reduce the margin of error by employing predictive analytical models of historical data. Similarly, it is leveraging analytics to detect fraud and minimize distribution and network losses by efficiently managing the logistics.
• In May 2019, Iberdrola Spain launched its new electricity distribution brand, i-DE. In 2018, i-DE allocated approximately $2.3 billion investment including $572.5 million for smart cities during 2018-2022. In June 2019, i-DE allocated an additional investment of $682.4 million for the next ten years aimed at transforming more than 40 cities and towns into smart cities by building an infrastructure that supports electric vehicles, provides smart electricity grids, encourages sustainable and efficient usage of renewable energy, and creates social awareness towards clean energy.

Reasons to Buy

• Gain insights into Iberdrola SA's tech operations.
• Gain insights into its digital strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, and acquisition strategies.