The energy service unit of Italian-based global utility Enel is partnering on development and management of energy storage projects in Canada.
Enel X and private investment firm Ardian are entering into a joint venture to manage Enel X’s battery storage projects in Canada and support the acceleration on developing new ones there. The company—which will be 80 percent owned by Ardian Infrastructure—will manage the 30 MW in battery capacity spread among 10 projects through Ontario.
Those include two different 10 MW/20MWh scheduled to reach commercial operation next year. Through the partnership, Enel X will continue to construct, operate, and maintain these projects and will be responsible for the development of future projects.
“Battery storage systems represent a key element in the transition towards a decarbonized energy system as they facilitate the flexibility and stability of grids, and we are committed to empowering customers to help drive the shift towards these technologies,” said Francesco Venturini, CEO of Enel X.
Enel X manages more than 35,000 sites across North America representing close to 4.7 GW in demand response capacity and more than 70 behind-the-meter storage projects either in operation or under contract.
“This investment bolsters Ardian’s position as a leading player in the sustainable energy sector across the Americas,” said Stefano Mion, Senior Managing Director and co-head of Ardian Infrastructure US. “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.”
Ardian manages or advises more than $100 billion in assets in Europe, the Americas and Asia.