ZE Energy, a Paris-based leader in renewable energy focused on hybrid solar and Battery Energy Storage Systems (BESS), has successfully closed a €54 million funding round led by Amundi Transition Énergétique. Additional investments came from Demeter’s Climate Infrastructure Fund and longstanding partner Sorégies. This capital infusion will support ZE Energy’s mission to deliver stable and sustainable energy solutions across continental Europe, with plans to expand its solar and battery storage capacity throughout the region.
Innovative Hybrid Power Model
Founded in 2019, ZE Energy has pioneered a unique hybrid power model that integrates photovoltaic (PV) production with advanced storage technology. This approach mitigates the frequent price fluctuations in the solar market by storing surplus energy for use during peak demand times. Currently, ZE Energy boasts a project pipeline of over 1 GW in solar PV and 300 MW of battery capacity, with ambitious goals to scale up to 900 MW of solar and 600 MWh of storage by 2026.
Addressing Price Volatility
ZE Energy’s innovative model directly addresses the persistent challenge of price volatility in renewable energy markets. By utilizing hybrid solar and battery storage systems, the company can offer reliable green power even during periods of solar overproduction. “In a context of increasing volatility in solar energy prices, the model advocated by ZE Energy stands out as an efficient solution, serving a well-managed energy transition,” remarked Mathieu Lassagne, Founder of ZE Energy. He noted that, during the first half of 2024, solar energy prices became increasingly negative due to overproduction, highlighting the need for effective energy storage solutions.
Expanding Europe’s Renewable Energy Footprint
With the recent funding, ZE Energy is well-positioned to expand its operational footprint across Europe, targeting key markets with its pipeline of hybrid projects. By the end of 2026, the company aims to achieve a capacity of 900 MW in solar PV and 600 MWh in energy storage, representing a significant advancement for sustainable energy in the region.
Amundi Transition Énergétique sees ZE Energy’s hybrid model as perfectly aligned with its sustainable infrastructure objectives. “We are very optimistic about the development of infrastructure solutions combining solar energy production and storage (BESS), which play a key role in decarbonizing the electricity system,” stated Matthieu Poisson, CEO of Amundi Transition Énergétique.
Strengthening Partnerships for the Green Transition
Demeter’s Climate Infrastructure Fund, a prominent supporter of energy transition initiatives, also participated in the funding round. “The company, with its hybrid assets, brings an energy efficiency approach perfectly aligned with the vision and investment thesis of the Climate Infrastructure Fund,” noted Philippe Detours, Managing Partner at Demeter.
Sorégies, an energy provider in Nouvelle-Aquitaine and a longstanding partner of ZE Energy, reaffirmed its commitment by participating in this funding round. “Flexibility is a major challenge for the energy transition. Our partnership leads to the development of efficient solutions that offer customers green, local, controllable, and reasonably priced electricity,” said Frédéric Bouvier, Chairman of the Management Board of Groupe Sorégies.
Next Steps in ZE Energy’s Journey
With fresh funding secured, ZE Energy is set to continue its growth trajectory, bringing more hybrid solar and storage solutions to Europe’s energy landscape. This innovative model is well-positioned to support a sustainable and resilient power supply, benefiting both energy producers and end-users as Europe advances toward a low-carbon future.
