The joint venture company will manage the battery storage projects of Enel X in Canada
Enel X, the advanced energy services business line of Enel Group has formed a battery storage joint venture with a private investment company, Ardian Infrastructure.
The partnership will created a dedicated vehicle company to manage the battery storage projects of Enel X in Canada. The company will also support in speeding up the development of similar projects in the country.
Ardian will hold 80% stake in the joint venture company and the remaining 20% interest will be held by Enel X.
At present, the portfolio of projects included in the joint venture company are ten battery storage projects with a combined storage capacity of about 30MW across Ontario.
It also includes two separate projects with 10MW/20MWh of capacity that are expected to reach commercial operations in 2021.
Enel X to build, operate, and maintain battery storage projects
Enel X will continue to build, operate, and maintain the battery storage projects and will oversee the development of the future projects as part of the partnership.
Ardian Infrastructure US senior managing director and co-head Stefano Mion said: “This latest partnership, our first in Canada, marks an important step forward as we diversify our sustainable energy portfolio into the rapidly growing battery storage sector.
“Behind-the-meter battery storage is a compelling component of the sustainable energy ecosystem as it allows users to store electricity when it is least expensive and consume it when costs from the grid are most expensive.”
Enel X said that the partnership is part of Ardian’s commitment to invest in new technology and clean energy assets to create sustainable energy market and address climate change.