Enel X has partnered with global investment firm AMP Capital to accelerate the adoption of electric vehicles in the public transportation sector in the Americas.
The two parties will establish a joint venture for the development of electric public transportation infrastructure in the Americas.
The joint venture will invest in electric public transportation vehicles and associated infrastructure for the vehicles’ storage, charging, repair and operation.
Currently, the joint venture owns 433 operating electric buses and associated charging infrastructure in Santiago de Chile, which were developed by Enel X over the past two years as part of the Transantiago 1, 2, and 3 projects.
AMP Capital holds an 80% controlling interest and Enel X holds a 20% interest in the joint venture.
Enel X will provide development and administrative services to the joint venture.
Boosting the development of electric mobility is a key element in the energy transition of smart cities, according to Enel X.
Enel X already participates in seven electric public transportation projects in four countries on two continents for a total of 991 e-buses – both supplied or served – running in Santiago, Bogotà, Montevideo and Barcelona.
Francesco Venturini, CEO of Enel X, said: “Urbanisation is one of the global trends that are changing the energy sector as megacities are increasingly requiring solutions for a clean, sustainable future, with electric mobility, both public and private, playing an essential role in this scenario.
“The partnership with AMP Capital reinforces our commitment to develop a sustainable, public mass transportation system, leveraging on our expertise in e-mobility and our strong presence in most of the mega cities in the Americas.”
Simon Ellis, head of Americas at AMP Capital, adds: “This investment provides AMP Capital with a strong entry point into the nascent and highly attractive e-mobility sector and represents our first significant investment in Latin America, a key target geography.
“This is a milestone for the global expansion of our infrastructure equity business and our growing presence in the Americas. The e-mobility partnership with Enel X, a true market leader in the clean-energy transition, represents a compelling socially and environmentally responsible investment. Vehicle electrification is critical to reducing air pollution caused by emissions and to meeting decarbonisation goals.”