Iberdrola to Acquire Derryherk in New Deal

Global energy giant Iberdrola has just sealed the deal to acquire the private technology company Derryherk, marking a significant milestone for its UK business SP Energy Networks (SPEN). This move comes as Derryherk’s cutting-edge technology promises to revolutionize data connectivity by leveraging its digital twin capabilities. The innovative technology enables the detection of network faults, forecasts capacity constraints, and facilitates active management of the low voltage network.

By acquiring Derryherk, SPEN is poised to enhance its network operations significantly. This acquisition not only builds upon a previous commercial agreement but also aligns with SPEN’s commitment to integrating advanced technology onto its network to support its ambitious net zero goals.

Furthermore, this strategic transaction underscores Iberdrola’s continuous expansion efforts in the UK through its ScottishPower businesses. With a substantial investment of £12 billion pledged between 2024-2028, Iberdrola is steadfast in its commitment to driving growth and innovation in the UK energy sector. The recent agreement to acquire a majority stake in ENW, subject to regulatory approvals, for approximately £2.1 billion further demonstrates Iberdrola’s strong position and investment in the UK market.

Over the years, Iberdrola’s investment in the UK has been substantial, with around £30 billion injected into various projects since its merger with ScottishPower in 2007. This sustained investment underscores Iberdrola’s long-term commitment to driving innovation and sustainability in the UK energy landscape.

As a key player in the UK energy sector, SP Energy Networks’ network plays a pivotal role in supplying electricity to over 3.5 million homes and businesses across central and southern Scotland, as well as in Merseyside, Cheshire, North and Mid-Wales, and North Shropshire.

Guy Jefferson, Chief Operating Officer of SP Energy Networks, emphasized the critical role that the electricity network plays in advancing the transition to a net zero carbon future. He praised Derryherk’s technology, stating that it will propel SP Energy Networks closer to realizing its vision of a smart grid that will enable cleaner and greener energy solutions for all.

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