SP Energy Networks has announced the successful acquisition of Derryherk, a company specialising in digital twin technology for network fault detection, capacity forecasting, and low-voltage network management.

This acquisition builds upon a previous commercial agreement between the two companies and will facilitate the integration of Derryherk's innovative technology into SPEN's network, supporting its net zero ambitions.

Iberdrola's – SPEN's parent company – investment in Derryherk further strengthens its presence in the UK through its ScottishPower businesses. The company has previously committed £12 billion to the UK market between 2024 and 2028 and recently signed agreements to acquire a majority stake in ENW for approximately £2.1 billion.

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Since merging with ScottishPower in 2007, Iberdrola has invested approximately £30 billion in the United Kingdom.

SPEN's network provides electricity to over 3.5 million homes and businesses in central and southern Scotland, Merseyside, Cheshire, North and Mid-Wales, and North Shropshire.

Guy Jefferson, SP Energy Networks' Chief Operating Officer, said: "The electricity network is critical to electrifying and decarbonising the economy to support a net zero future. This technology will take us another step forward in building the smart grid of the future that will power cleaner and greener lives."