Iberdrola shifts R&D investment to offshore wind

SPAIN: Iberdrola has shifted the focus of its research and development towards offshore wind and smart grids over the past year with a EUR 145 million cash injection.

by Patrick Smith 24 February 2014

Iberdrola has invested in Maine's Aqua Ventus floating project

The Spanish utility and wind developer said it spent 10% more on research and development than in the previous year.

Through its Perseo venture capital scheme, Iberdrola invested in Innpacto Emerge and Aqua Ventus, which are researching the development of floating platforms for deep waters.

Money has also been allocated to Cenit Azimut and EERA Dtoc projects, which are aimed at developing gravity foundations for medium-depth wind farms.

The company is also working on the development of smart grids, with involvement in the GRID4EU and iGREENGrid projects, both of which are developing methods for integrating renewable energy in electricity distribution grids.