Enel X and AMP Capital: electric public transportation in Latin America in the spotlight. The two companies have launched a joint venture to accelerate the adoption of electric buses in the region through innovative business models. A practice already inaugurated in Santiago de Chile, where 433 BYD electric buses in the Metbus fleet are owned by Enel X, and leased to the operator.
The joint venture, announced on 4th September, will invest in electric public transportation vehicles and associated infrastructure for the vehicles’ storage, charging, repair and operation in the Americas, where significant projects aimed at the electrification of bus fleets have been put in place.
As of May 2020, there were 1,229 electric buses in operation in 27 Latin American cities, i.e. 1.27% of the total bus fleet in the considered cities. The figure comes from the E-BUS RADAR platform launched by Laboratório de Mobilidade Sustentável (LABMOB) in partnership with the ZEBRA project, which has the scope of support the adoption of electric buses in the region.
Enel X and AMP Capital to boost electric bus adoption
Enel X is the Enel Group’s advanced energy services business line, while AMP Capital is a global investment manager.
Under the agreement, Enel X and AMP Capital have formed a joint venture to establish and grow an e-mobility platform in the Americas. More specifically, the parties will jointly invest in the development and leasing of vehicles for electric ground mass public transportation and associated infrastructure for the vehicles’ storage, charging, repair and operation in the Americas, Enel X highlights in a press release.
Enel X – AMP Capital, a 20 – 80 joint-venture
AMP Capital holds an 80% controlling interest and Enel X holds a 20% interest in the joint venture. Enel X will also provide development and administrative services to the joint venture. The joint venture, as mentioned above, currently owns a fleet of 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.
The partnership is fully in line with the Enel Group’s commitment to boosting the development of electric mobility, which is a key element in the energy transition of smart cities. Through Enel X, the Group 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.
Electric mass public transporation with Enel X and AMP Capital
“Urbanization 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,” said Francesco Venturini, CEO of Enel X. “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 commented: “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 decarbonization goals.”