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 Harnessing the power of alternative energy sources around the world will be increasingly important in managing the environmental impacts associated with this rising energy demand.
KKR infrastructure portfolio company X-ELIO 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, Puerto Rico, Honduras, Peru, and Chile. As of June 2017, the company had participated in the development of more than 840 megawatts (MW) of photovoltaic projects and currently has 200 MW of photovoltaic projects under construction.
X-ELIO is a leader in the global solar photovoltaic sector due to its ability to achieve scale, invest capital, and drive innovation with its technological focus and extensive capabilities. As a provider of sustainable, renewable energy, X-ELIO has a mission and a mandate, which are aligned with reducing greenhouse gas emissions and increasing access to clean energy in developed and emerging markets.
In 2016, X-ELIO’s portfolio of international solar photovoltaic assets generated approximately 455 gigawatts of clean energy, a 14 percent increase from 2015. That is enough to provide electricity to more than 151,000 homes for one year and to avoid more than 193,900 metric tons of greenhouse gas emissions.