Iberdrola has finalized the acquisition of private technology firm Derryherk through its UK subsidiary, SP Energy Networks (SPEN). The acquisition aims to strengthen data connectivity and digital twin technology to enable better fault detection, forecast capacity constraints, and actively manage the low-voltage network.
The acquisition builds on an existing commercial partnership, integrating Derryherk's technology into SPEN's network to support its net-zero goals. This move aligns with Iberdrola's broader growth strategy in the UK, where the company has committed £12 billion in investment from 2024 to 2028.
Since its merger with ScottishPower in 2007, Iberdrola has invested around £30 billion in the UK energy sector. SPEN's COO, Guy Jefferson, emphasized the importance of the acquisition, stating, “This technology will take us another step forward in building the smart grid of the future that will power cleaner and greener lives.”
