Enel X, the business line dedicated to innovative products and digital solutions part of Milan-listed Italian energy giant Enel Group, and the international private equity firm Ardian have signed a joint venture to develop battery energy storage systems in Canada (see the press release here).
Under the agreement, an ad hoc vehicle company was formed, 80% owned by Ardian Infrastructure and 20% owned by Enel X, to manage the battery energy storage projects in Canada currently included in the joint venture, for approximately 30 MW of capacity. The battery energy storage systems portfolio includes ten locations across the Ontario region and includes two 10 MW/20 MWh projects expected to go live in 2021.
With this collaboration, Enel X will continue to build, manage and maintain these projects, while also remaining responsible for the development of future ones. The partnership with Ardian is in line with Enel X’s commitment to promote the creation of advanced energy service solutions for commercial and industrial customers (C&I), leveraging the company’s offer of integrated services for end customers. All of Enel X’s storage projects use internal Distributed Energy Resources (DER) Optimization software, which boasts the unique ability to maximize earnings in various use cases, such as demand management and energy management programs. With financial support from Ardian, the platform will allow C&I customers to install state-of-the-art energy storage systems with the aim of improving the efficiency of energy consumption and infrastructure.
Enel X is Enel’s global business line dedicated to the development of innovative products and digital solutions in sectors where energy is showing the greatest potential for transformation: cities, homes, industry and electric mobility. The company operates worldwide in the advanced energy services sector with a demand management capacity of over 6 GW managed and distributed globally, and with 110 MW of storage capacity worldwide, as well as being active in the electric mobility sector , with 100,000 public and private charging points for electric vehicles around the world.
Last August Matteo Concas became Head of Global Financial Solutions of Enel X, after having been general manager in Italy and then Head of Growth of the German fintech bank N26, having participated in the foundation of Beesy (see here a previous article by BeBeez) and led the German challenger bank Penta in Italy, a market that Penta decided to leave just after 9 months it had opened shop (see here a previous article by BeBeez). At the beginning of September Enel X signed a partnership with the French lending platform October signed a partnership to support SME development programs (see here a previous article by BeBeez).