Spanish utility Iberdrola has announced plans to boost expenditure on research, development and innovation focusing on clean energy and renewables.

The company said it will increase research, development and innovation expenditure by 30% to €8.3m ($117.5m) this year.

The money will go towards 20 new high-technology development projects, which have been sanctioned by the company’s technological development and innovation committee.

The new projects involve research on marine generation including wind, wave and tidal sources, thermal exchange systems at solar thermal stations, and third-generation nuclear-plant technology and associated construction methods, the company said.