The Paris-based photovoltaic power plants and energy storage development specialist ZE Energy declared that it had raised money amounting to €54 million or about $57.8 million on 6 November 2024 for the purpose of speeding up European expansion. In terms of strategy, this financing was quite crucial for its development in Europe, and thereby it could expand renewable solutions for energy there.
Founded in 2019, ZE Energy is a rapidly growing innovative force for the renewable energy sector and specializes in designing, building, and managing hybrid photovoltaic power plants which include energy storage capabilities. In financing renewable energy projects with long-term fixed-price solutions, it addresses some of the challenges related to the rapidly emerging market. Its unique business model, combining both solar power generation and storage, has proven to produce several advantages relative to energy price volatility mitigation.
The company has a strong ambition for the short term, with plans for a project portfolio of 900 MW in photovoltaic energy production and 600 MWh in energy storage capacity by 2026. This expansion is essential in an energy market characterized by fluctuating solar power prices. The chief founder of ZE Energy, Mathieu Lassagne, said that since the first half of 2024, solar energy prices often entered negative at hours of overproduction. According to him, the whole system can stabilize prices so that producers and consumers may benefit from integrating storage capability. Lassagne was optimistic about ZE Energy’s model as a solution for a controlled energy transition with high performance.
The latest investment round has brought Amundi Energy Transition to the leading position, wherein it had placed its infrastructure investment by committing to an Infrastructure Investment Core+. More new investors coming in to the series funding include climate infrastructure managed Demeter-Climate, a returning investor through Sorégies, and Marguerite, in addition to that, investors HTGF and ZE WAY INVEST. On his comment with regard to the opportunity Amundi Transition Énergétique CEO Matthieu Poisson seems to hold much potential infrastructure solutions blending solar power into battery-based energy systems. He emphasized how such innovations were crucial for decarbonizing the electricity system of Europe and welcomed the experience and promise the ZE Energy team provided. Poisson also demonstrated enthusiasm for the opportunity of empowering ZE Energy to reinforce its growth in Europe while implementing sustainable and resilient energy solutions.
The €54 million injection puts ZE Energy squarely to scale its operations in leaps and bounds while enhancing its impact on the renewable energy landscape. Additionally, the company will remain well-poised as it advances its hybrid model toward fulfilling the continent’s rising need for stable and sustainable sources of energy.