Enel and Ardian agree battery storage deal in Canada

FILE PHOTO: A logo of Italian multinational energy company Enel is seen at the Milan's headquarter, Italy, February 5, 2020. REUTERS/Flavio Lo Scalzo

MILAN (Reuters) - Italy's biggest utility Enel ENEI.MI has agreed a deal with French private equity group Ardian to offer battery storage to businesses in Canada.

Ardian Infrastructure will own 80% of the venture while Enel X, the advanced energy services unit of the Italian utility, will hold the rest, the two groups said in a joint statement.

Enel X will continue to operate and maintain the 30 megawatts of battery storage the venture already has in place and will also develop future projects across the Canadian province of Ontario.

“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,” said Stefano Mion, co-head of Ardian Infrastructure US.

Battery storage systems play a key role in the transition towards a carbon-free energy system, offering flexibility and stability to power grids as electricity is increasingly generated by wind and solar sources.

Reporting by Stephen Jewkes; editing by David Evans