Energy services provider Enel X Srl and European infrastructure investor Infracapital have created a new company in Spain to expand their distributed generation and energy efficiency joint venture.
"Looking ahead, we are expecting to sign more deals of this kind, in order to maximize the innovative solutions offered to our business customers wishing to play an active role in the energy transition," Enel X CEO Francesco Venturini said in a Jan. 8 company news release.
"We are continuing to grow in the distributed generation and energy efficiency segments, tapping France as well as the Iberian region and replicating the model we already launched in Italy with the same partner, around one year ago."
The "Cogenio" joint venture, which was established in Italy in December 2018, is 20% owned by Enel X and 80% held by Infracapital.
Enel SpA, through its subsidiary, will contribute to the newly created company around 200 energy projects by April 2020. Enel X subsidiary Endesa X will operate the assets and develop new projects under the platform.
Meanwhile, Cogenio, through the newly created company, targets to have a portfolio of over 220 projects in four countries: France, Italy, Portugal and Spain.