Iberdrola acquires Derryherk to boost network efficiency

  • October 9, 2024
  • Steve Rogerson

Spanish electricity utility Iberdrola has acquired technology company Derryherk to boost UK distribution network efficiency.

Through its UK business SP Energy Networks, it completed the transaction following a licence agreement partnership between the companies, with digital twin modelling and associated functionality developed and implemented on the SPEN network.

The transaction is Iberdrola’s latest investment in the UK electricity network, following the company’s recent signing of agreements to acquire 88% of Electricity North West (ENW). After completion, this would position SP Energy Networks (www.spenergynetworks.co.uk) as the second largest electricity network operator in the UK.

Derryherk’s technology improves data connectivity through its digital twin to enable network fault detection, forecast capacity constraint and provide active management of the low voltage network.

The transaction furthers Iberdrola’s growth in the UK through its Scottish Power businesses, with investment of £12bn previously committed between 2024 and 2028 and boosted by the recent signing of agreements to acquire a majority acquisition of ENW (www.enwl.co.uk) for around £2.1bn.

Since merging with Scottish Power in 2007, Iberdrola (www.iberdrola.com) has invested around £30bn in the UK.

SPEN’s network keeps electricity flowing round the clock to more than 3.5 million homes and businesses throughout central and southern Scotland and Merseyside, Cheshire, north and mid-Wales, and north Shropshire.

“The electricity network is critical to electrifying and decarbonising the economy to support a net zero future,” said Guy Jefferson, SP Energy Networks’ chief operating officer. “This technology will take us another step forward in building the smart grid of the future that will power cleaner and greener lives.”