Paris-based ZE Energy, an independent producer of renewable energy specializing in Battery Energy Storage Systems (BESS), has raised €54 million in a funding round led by Amundi Transition Énergétique.
The investment brings new stakeholders to ZE Energy, including Amundi’s Core+ infrastructure funds and Demeter’s Climate Infrastructure Fund, a notable player in energy transition financing. Existing shareholder Sorégies also contributed to the round, alongside Marguerite, HTGF, and ZE WAY INVEST.
According to Matthieu Poisson, CEO of Amundi Transition Énergétique, this partnership marks a commitment to supporting the infrastructure for sustainable energy solutions: “We are very optimistic about the development of infrastructure solutions combining solar energy production and storage (BESS), allowing us to play a key role in the decarbonization of the electricity system.” Poisson added, “We are delighted to partner with the founders, existing shareholders, and management team of ZE Energy, a team that has proven its potential through its achievements since inception. We look forward to supporting them in this European growth and expansion plan.”
Driving the renewable energy transition
Founded in 2019, ZE Energy has quickly established itself as a leader in renewable energy with a focus on hybrid solar power plants that integrate photovoltaic systems with energy storage, tailored specifically for continental Europe. ZE Energy manages all aspects of its projects, from development and financing to construction and operation. It sells green energy directly to consumers or through tenders, aiming to offer stable, reliable energy solutions.
Mathieu Lassagne, founder of ZE Energy, emphasized the value of the company’s approach in the current market: “In a context of increasing volatility in solar energy prices, the model proposed by ZE Energy stands out as a high-performance solution, supporting a controlled energy transition.” He further noted, “Our model, which combines solar production with energy storage, is also meeting growing interest. 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 thus avoid price volatility, is the optimal solution for both producers and consumers.”
Strategic growth with fresh capital
ZE Energy intends to utilize the newly raised funds to support its expansion across Europe over the next two years. With a current project portfolio exceeding 1 GW in solar capacity and over 400 MW in battery storage, the company plans to grow its operational and construction-ready portfolio to 900 MW of solar power and 600 MWh of storage by 2026.
Philippe Detours, Managing Partner at Demeter, shared his insights on ZE Energy’s role in promoting energy efficiency: “With its hybrid assets, the company is introducing an energy efficiency approach that aligns perfectly with the vision and investment thesis of the Climate Infrastructure Fund. This fundraising will support ZE Energy’s growth in France and internationally.”
Sorégies, a longstanding partner of ZE Energy, echoed these sentiments. Frédéric Bouvier, Chairman of the Executive Board of the Sorégies Group, stated: “Flexibility is a major challenge for the energy transition. For this reason, we are continuing our collaboration, capitalizing on the complementarity of our approaches and the success of our joint achievements. Our partnership leads to the development of efficient solutions that offer our customers green, local, controllable electricity at a stable price. Together, we are pursuing our goal of making the energy transition accessible to all.”
ZE Energy’s recent funding round underscores the growing investor interest in sustainable energy solutions that integrate renewable energy production with advanced storage technologies. By supporting solar production and storage in Europe, ZE Energy aims to offer resilient, environmentally responsible solutions that serve both producers and consumers while fostering energy stability across the continent.
