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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Iberdrola, S.A.    IBE   ES0144580Y14

IBERDROLA, S.A.

(IBE)
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Iberdrola S A : Iberdrola creates its Global Smartgrid Innovation Hub to lead the energy transition

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09/23/2020 | 11:09am EDT

Iberdrola believes that the transition towards a new energy model, based on electrification and the incorporation of more renewables, requires accelerating investments in electricity distribution networks.

In order to respond to the challenges and to lead innovation in networks infrastructure, the company has announced the launch of a Global Smartgrid Innovation Hub. The hub will act as a platform for driving innovation, combining its technological capabilities with that of suppliers, collaborators and startups from all across the world.

In the context of a green recovery, the hub is designed to support cutting-edge projects in smart grid technologies that will benefit local industries, promote global innovation, and attract investment to enhance the growth of communities.

The innovation hub, located in Spain at the company's Distribution Operation Center in Bilbao, will start operating in the spring of 2021. Iberdrola has already identified more than 120 innovation projects worth EUR110 million. The lines of work, which are international in scope, will enable the development and deployment of innovative solutions to the company's electricity network activities throughout the world.

The initiative will involve the collaboration of more than 200 professionals to develop R+D+i projects related to the new challenges of electricity networks. This will include enhanced digitalization, data analytics and the resilience and flexibility of the network to manage new consumption models, including electric mobility and self-generation.

Collaborating in the project is the Provincial Council of Bizkaia, which will facilitate the relationship between the innovation ecosystem and the financial tools to accelerate startup participation.

INVESTMENT IN R&D&I TO MEET THE CHALLENGES OF THE GREEN ECONOMY

Over the past decade, Iberdrola accumulated investment in R+D+I activities related to renewables, electricity networks, storage and consumer solutions is close to EUR2 billion. This commitment makes it the world's third most innovative energy company.

Over the last two years, the company has developed 85 innovation projects, becoming world leader in smart grid technology.

In recent years, the group's distribution companies have deployed nearly 14 million smart meters out of a total 20 million planned - in the markets where they operate, and have adapted the electrical infrastructure that supports them by adding remote management, supervision and automation capabilities.

The company manages 1.2 million km of power lines and more than 4,400 substations, which distribute electricity to more than 30 million people worldwide

Contact:

Susana Sanjuan

Tel: +34 91 784 32 32

Email: comunicacioncorporativa@iberdrola.es

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials
Sales 2020 36 757 M 42 829 M 42 829 M
Net income 2020 3 734 M 4 351 M 4 351 M
Net Debt 2020 39 339 M 45 838 M 45 838 M
P/E ratio 2020 17,7x
Yield 2020 4,07%
Capitalization 62 617 M 73 014 M 72 961 M
EV / Sales 2020 2,77x
EV / Sales 2021 2,69x
Nbr of Employees 35 816
Free-Float 94,7%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 11,00 €
Last Close Price 10,22 €
Spread / Highest target 24,3%
Spread / Average Target 7,68%
Spread / Lowest Target -15,9%
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Managers
NameTitle
José Ignacio Sánchez Galán Chairman, President & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Fernando Lucero Batalla Head-Information Technology & Finance
Íñigo Víctor de Oriol Ibarra External Director
Samantha Catherine Barber Independent Director
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