Enel X, AMP Capital to invest in electric buses in Americas

The energy transformation firm Enel X and investment manager AMP will invest in the electric public transport infrastructure in three South American cities

The joint venture, in which AMP Capital holds an 80% controlling interest, will invest in infrastructure for the electric vehicles’ storage, charging, repair and operation.

It already owns 433 operating electric buses in Santiago, Chile; these vehicles, and their associated infrastructure, were formerly part of Enel X’s projects Transantiago 1, 2 and 3. It is expected that Enel X will add more of its vehicles to the joint venture, including its electric buses that are currently operating in Bogotà, Colombia and Montevideo, Uruguay.

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 decarbonisation goals.”

Francesco Venturini, CEO of Enel X, added: “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.”