Ardian and Enel X to form a joint venture.

Ardian, a private equity firm, and Enel X, the Enel Group’s advanced energy services business line, agreed to form a joint venture to manage Enel X’s battery storage projects in Canada and support the acceleration of the development of similar projects in the country. Financial terms were not disclosed. "This investment bolsters Ardian’s position as a leading player in the sustainable energy sector across the Americas. 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. We are excited to partner with Enel X on the opportunity to accelerate the joint venture’s growth, initially in Canada but longer term across the Americas," Stefano Mion, Ardian Senior Managing Director.