Climate Insider Brief:
- ZE Energy raised €54 million in a funding round led by Amundi Transition Énergétique, with new investments from Amundi’s Core+ infrastructure funds and Demeter’s Climate Infrastructure Fund, supporting the company’s goal of expanding hybrid solar and battery storage capacity across Europe.
- ZE Energy’s approach combines solar power generation with battery storage to manage price volatility and overproduction, ensuring more reliable and stable renewable energy for both producers and consumers.
- Existing and new investors, including Sorégies and Marguerite, emphasize ZE Energy’s role in advancing flexible, localized renewable energy solutions essential for Europe’s decarbonization goals.
In a significant boost to renewable energy innovation, Paris-based ZE Energy, a renewable energy producer specializing in Battery Energy Storage Systems (BESS), has raised €54 million in a new funding round aimed at accelerating its European expansion. The funding round, led by Amundi Transition Énergétique, also brought in two new stakeholders: Amundi’s Core+ infrastructure funds and Demeter’s Climate Infrastructure Fund, both focused on supporting the transition to clean energy.
This latest capital infusion, which also included investments from Sorégies, Marguerite, HTGF, and ZE WAY INVEST, will support ZE Energy’s ambitious growth plans over the next two years. The company aims to expand its current project portfolio, which includes over 1 GW in solar capacity and 400 MW in battery storage, to 900 MW of solar power and 600 MWh of storage by 2026. This growth will enable ZE Energy to build on its hybrid power plant model that integrates photovoltaic systems with energy storage, an approach designed to counterbalance the intermittency and volatility of solar energy.
Driving Decarbonization with Hybrid Infrastructure Solutions
Amundi Transition Énergétique’s CEO, Matthieu Poisson, expressed confidence in the venture, saying, “We are very optimistic about the development of infrastructure solutions combining solar energy production and storage, allowing us to play a key role in the decarbonisation of the electricity system.” He praised ZE Energy’s team for its achievements and outlined the expansion strategy that aligns with the shared vision of accelerating renewable energy infrastructure across Europe.
ZE Energy’s unique hybrid model, which pairs solar power production with energy storage, addresses some of the core challenges facing renewable energy, including the volatility of solar prices. Mathieu Lassagne, founder of ZE Energy, highlighted this need, stating, “In the first half of 2024, solar energy prices have increasingly become negative due to overproduction at certain times. Being able to store this energy, and therefore not subject to price volatility, is the optimal solution for both producers and consumers.”
Supporting European Energy Resilience
With a focus on end-to-end project development, from financing to construction and operation, ZE Energy supplies green energy directly to consumers or through tenders. The funding also enhances the company’s ability to expand across continental Europe, where demand for resilient and flexible renewable energy solutions is on the rise. According to Philippe Detours, Managing Partner at Demeter, “With its hybrid assets, the company is bringing an energy efficiency approach that is perfectly aligned with the vision and investment thesis of the Climate Infrastructure Fund.”
The addition of Sorégies in this funding round further underscores the strategic importance of flexibility and local energy solutions. Frédéric Bouvier, Chairman of the Executive Board of the Sorégies Group, remarked, “Flexibility is a major challenge for the energy transition. Our partnership leads to the development of efficient solutions that offer our customers green, local, controllable electricity at a controlled price.”
ZE Energy: A Leader in Hybrid Renewable Solutions
Since its founding in 2019, ZE Energy has demonstrated its commitment to a clean energy future, managing all stages of renewable energy projects and pioneering the hybrid power model for solar and battery storage across Europe. With this new funding, ZE Energy is set to play a pivotal role in advancing energy independence and resilience across Europe, where increased energy storage capabilities are crucial for supporting grid stability.
Climate Insider Notes:
- Funding Scope: ZE Energy’s €54 million funding will support European expansion, increasing solar capacity to 900 MW and storage to 600 MWh by 2026.
- Hybrid Model Advantage: ZE Energy’s model pairs solar with battery storage, addressing price volatility and overproduction issues in the solar market.
- Strategic Partnerships: New and existing investors, including Amundi Transition Énergétique and Sorégies, reinforce ZE Energy’s position as a leader in sustainable energy solutions.
- European Energy Vision: The investment highlights the growing importance of flexible, local, and hybrid renewable solutions in Europe’s path to energy transition.
This infusion of capital and confidence positions ZE Energy as a key player in building resilient and efficient renewable energy systems across the continent.
Source: siliconcanals
Featured Image: Credit: ZE Energy
