The JV will target private and public EV charging infrastructure and will benefit from the support of its shareholders.
26 Feb 2021 | 12622 Views | By Autocar Professional Bureau
Enel X, the Enel Group’s advanced energy solutions business line and Sterling and Wilson (SWPL), a Shapoorji Pallonji Group company and a leading engineering, procurement and construction (EPC) company, have entered into a joint venture aimed at accelerating the electric vehicle uptake in the Indian subcontinent.
Beginning from April ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
Enel X, the Enel Group’s advanced energy solutions business line and Sterling and Wilson (SWPL), a Shapoorji Pallonji Group company and a leading engineering, procurement and construction (EPC) company, have entered into a joint venture aimed at accelerating the electric vehicle uptake in the Indian subcontinent.
Beginning from April 2021, the JV will leverage Enel X’s technological know-how and e-mobility experience as well as the engineering, operations and deployment expertise of SWPL to promote the adoption of EV charging infrastructure in India.
Francesco Venturini, Enel X CEO said: “This partnership represents an important step forward in our energy transition strategy. We are leading the spread of electric mobility in several global markets, including Europe and North America and we are thrilled to work with Sterling and Wilson, marking our entry into the Indian market. Joining forces allows our teams to leverage our extensive market knowledge and technical experience, helping to deliver effective results, as well as making important steps towards a clean and sustainable future. We will support the JV by bringing electric mobility solutions to market that are fit for local needs, accessible, and convenient for all drivers, significantly contributing to the decarbonization of the transport sector across India and subsequently South East Asia.”
Sanjay Jadhav, CEO, Sterling Generators said: “As part of our commitment to sustainability, we are happy to announce our entry into the electric mobility segment through a joint venture with Enel X, providing end-to-end services for electric vehicle charging stations across India. The quick electric charger will be a game-changer for the EV sector in the country and is in line with the national vision to combat fossil fuel pollution and associated climate change through accelerated electrification of private and public transportation as a prime lever. The JV will help create direct and indirect employment through local manufacturing and operations & maintenance services of the charging infrastructure.”
The JV will target private and public EV charging infrastructure and will benefit from the support of its shareholders. The new business will market and distribute solutions that already have worldwide recognition, including JuiceBox and JuicePump, which have been licensed by Enel X, adjusted to the needs of India. In addition, it will contribute to the spread of reliable and connected charging infrastructures and technology, with Enel X’s charging infrastructures’ back-end platform, tapping into the growth potential of the Indian market, as well as the software as a service (SaaS) business model.
The partnership is 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. Enel X is among a leading player in public and private charging infrastructure and innovative services, to overcome usage barriers and to create new economic, social, and environmental value for all: shareholders, consumers, businesses, and public administrations.
The joint venture between Enel X and Sterling and Wilson is expected to be incorporated on April 1, 2021 and will start operating from the second quarter of 2021.