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Spanish electric utility Iberdrola has announced it has installed over 8 million smart meters in Spain.
Iberdrola announced on Friday that it will boast more than eight million smart meters installed throughout Spain by the end of August, all installed within the framework of project STAR (Remote Grid Management and Automation System). The company will have therefore already modernized 76% of all its meters with subscribed power up to or less than 15 kilowatts, totaling 10.5 million meters — surpassing the official schedule that had been set by Spain’s Ministry of Industry.
In addition, Iberdrola has adapted approximately 48,000 transformation centers throughout the 10 autonomous regions in Spain in which the company has power distribution networks, incorporating remote management, monitoring, and automation capabilities. Iberdrola therefore claims it is now one of the most advanced companies in the area of smart grid infrastructure.
Of specific interest to consumers sourcing their power requirements from Iberdrola is the ability they now have to use smart meters equipped with remote management systems to see their daily, weekly, and monthly consumption curves, their maximum power demand, and a variety of other details through the company’s website.
Iberdrola expects the total rollout of Project STAR to be completed in 2018, representing a total investment by the company of more than €2 billion.
It has been a big month for Iberdrola, as its smart meter announcement follows hot on the heels of the acquisition of a €200 million loan from the European Investment Bank for the funding of finance research, development, and innovation projects in two of its strategic business areas — Networks and Renewables. In addition, Iberdrola announced only last week that it had received official permission to build two small wind farms in the Canary Islands.
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