Italian utility Enel SpA (BIT:ENEL) is entering the electric vehicle (EV) charging market in India by agreeing to establish an equally-held joint venture with Indian engineering, procurement and construction contractor Sterling and Wilson Pvt Ltd, part of privately-owned industrial conglomerate Shapoorji Pallonji.
The new entity, to be formed under Enel’s smart energy solutions arm Enel X, will begin operations in the second quarter of 2021, a statement showed on Friday.
The joint venture will seek to speed up the development of end-to-end services for both public and private EV charging infrastructure in India and the wider South Asia.
The company, to be incorporated on April 1, will market locally products like Enel X’s JuiceBox and JuicePump.
“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,” Sanjay Jadhav, the CEO of power equipment unit Sterling Generators, said.
Enel X has to date provided 175,000 public and private EV charging points worldwide.
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