Paris-based ZE Energy, an independent renewable energy producer specialising in Battery Energy Storage Systems (BESS), has raised €54M in a new funding round. 

The investment, led by Amundi Transition Énergétique, introduces two new stakeholders: Amundi’s Core+ infrastructure funds, and Demeter’s Climate Infrastructure Fund, a player in energy transition financing.

Existing shareholder Sorégies also invested in this round, along with contributions from Marguerite, HTGF, and ZE WAY INVEST.

Matthieu Poisson, CEO of Amundi Transition Énergétique, says, “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 decarbonisation of the electricity system.”

“We are delighted to partner with the founders and existing shareholders as well as the management team of ZE Energy, a team that has proven itself through what the company has achieved since its creation and its potential, and we look forward to supporting them in this European growth and expansion plan.”

An independent producer of renewable energy

Founded in 2019, ZE Energy is an independent renewable energy producer focused on hybrid solar power plants that integrate photovoltaic systems with energy storage, tailored for continental Europe.

The company manages all stages of its projects, from development and financing to construction and operation, and sells green energy to consumers directly or through tenders.

Mathieu Lassagne, founder of ZE Energy, says, “In a context of increasing volatility in solar energy prices, the model defended by ZE Energy stands out as a high-performance solution, serving a controlled energy transition.”

“Our model, combining solar production and 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 therefore not subject to price volatility, is the optimal solution for both producers and consumers.”

Capital utilisation

ZE Energy will use the funds to support its growth over the next two years, focusing on European expansion.

With a current project portfolio exceeding 1 GW in solar capacity and over 400 MW in battery storage, ZE Energy aims to grow its operational and construction-ready portfolio to 900 MW of solar power and 600 MWh of storage by 2026.

For Philippe Detours, Managing Partner at Demeter, says, “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. This fundraising will support the growth of ZE Energy in France and internationally.” 

Frédéric Bouvier, Chairman of the Executive Board of the Sorégies Group, adds, “Flexibility is a major challenge for the energy transition. For this reason, we are continuing our collaboration by capitalising 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 controlled price. Together, we are pursuing our goal of making the energy transition accessible to all.”