The Enel Group, through its business line Enel X and European investment fund Infracapital, one of Europe’s leading Infrastructure investors, have signed an agreement to expand their “Cogenio” distributed generation and energy efficiency joint venture, through a new company operating throughout Spain. The Cogenio platform, launched in Italy in December 2018, is 20%-held by Enel X and 80%-held by Infracapital. Within the joint venture, Enel X is in charge of operating existing assets and of developing new projects, on grounds of its technology and market expertise.

“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 shift in the energy paradigm, which has given centrality to customers during the transition towards a low-carbon world, provides us with the ideal framework for growth through this innovative business model. 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,” said Francesco Venturini, CEO of Enel X.

The start of operations of the new Spanish company envisages that, by April 2020 the Enel Group will contribute to the new company around 200 distributed photovoltaic (PV) generation, cogeneration, tri-generation and energy efficiency projects for C&I customers in Spain, with some projects also operating in France and Portugal. Enel X will own 20% of the company and, through its Spanish arm Endesa X, operate assets as well as develop new projects within the Cogenio platform. Infracapital will own 80% of the company and fund its growth. Cogenio, through the new Spanish company, will reach an overall portfolio of over 220 projects in the four countries.