Media Releases

Enel X and AMP Capital establish joint venture to boost electric public transportation in the Americas

By AMP Capital media team
  • The joint venture will invest in electric public transportation vehicles and associated infrastructure for the vehicles’ storage, charging, repair and operation in the Americas
  • The joint venture 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

September 3rd , 2020 - Enel X, the Enel Group’s advanced energy services business line, and AMP Capital, a global investment manager, have entered into an agreement to establish a joint venture for the development of electric public transportation infrastructure in the Americas.

“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.”

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.

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 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.

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While every care has been taken in the preparation of this document, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) makes no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. Neither AMP Capital nor any company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this document This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This document is not intended to be and does not constitute financial advice nor a recommendation to subscribe for or purchase any investment by any person in any jurisdiction nor does it constitute an offer, solicitation or invitation to subscribe or purchase any investment in any jurisdiction where it would be contrary to the laws, regulations or directives in force or applicable in such jurisdiction.

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