Global energy consumption is predicted to increase by 48 percent between 2012 and 2040, according to the U.S. Energy Information Administration, with a significant portion generated by fossil fuels. Importantly, approximately 65 percent of this demand growth is expected to come from developing economies in Asia, Africa, and South America.i There is an opportunity for societies to increasingly harness alternative energy sources around the world.
KKR infrastructure portfolio company X-ELIO, formerly known as Gestamp Solar, specializes in the development, construction, operation, and maintenance of solar photovoltaic plants globally. The company currently owns operating assets in Spain, Italy, South Africa, Japan, the United States, and various other countries around the world. As of 2016, the company has participated in the development of almost 700 MW of photovoltaic projects and currently has 100 MW of photovoltaic projects under construction.
With a global platform, X-ELIO is a market leader with the ability to achieve scale and capital to invest, and with the technological focus and extensive capabilities to drive innovation in the solar photovoltaic sector. As a provider of sustainable, renewable energy, X-ELIO has a mission and a mandate which are aligned with reducing greenhouse gases and increasing access to clean energy in developed and emerging markets.
In 2015, X-ELIO’s portfolio of international solar photovoltaic assets generated approximately 400 GWh of clean energy, an amount sufficient to provide electricity for one year to more than 100,000 homes and to avoid almost 160,000 metric tons of greenhouse gas emissions. During the year, the company inaugurated two new power plants in Honduras and Japan, totaling 74 MW of capacity, and commenced construction of plants with 82 MW of capacity in Japan and Chile.