Iberdrola's offshore R&D focus

Spain’s Iberdrola confirmed its growing focus on offshore wind led it to increase R&D spending in the sector last year.

The utility said offshore wind was one of its priority areas in 2013, when it allocated investment to a range of projects across Europe aimed at driving innovation in the sector.

They included the Aqua Ventus floating wind project and the UK’s Offshore Wind Accelerator.

Iberdrola said its total R&D allocation was €159m ($219m) last year, up 10% on 2012’s figure.