TotalEnergies, Baker Hughes, Technip Energies, Azimut (through the Azimut ELTIF – Infrastructure & Real Assets ESG fund) and other investors through Zhero Europe, are boosting renewable energies. With the aim of developing large-scale renewable energy projects in Europe and Africa, covering electricity interconnections and green molecules.
Zhero Europe: Accelerating renewable energies between Europe and Africa
Zhero Europe was founded in response to a vision: that large integrated projects, including generation from high-quality wind and solar resources, and long-distance captive exports are the most effective way to accelerate the energy transition in high-demand areas. This round of financing will enable Zhero Europe to continue developing its portfolio of projects, drawing on the world-class expertise of its new investors.
Paddy Padmanathan and Alessandra Pasini, President and Managing Director of Zhero Europe respectively, commented: “We are delighted to welcome new investors who share our ambition to accelerate the energy transition by realizing large-scale financeable projects that will inspire other companies. Green energy is already cheaper than fossil fuels in many countries, and we need to accelerate project development and construction to close the widening gap between climate action and ambition. There’s no time to lose.”
Stéphane Michel, President Gas, Renewables & Power at TotalEnergies, said: “Zhero Europe’s ambition is to bring abundant, affordable and clean energy to Europe from the best production sites to major consumer markets, particularly in North Africa. We therefore welcome the opportunity to join forces with Zhero Europe and its other investors to support the development of these pioneering projects, to the mutual benefit of Europe and Africa.”
About Zhero Marco Alverà, Paddy Padmanathan, Alessandra Pasini and Enrico Vitali founded Zhero at a time when a new generation of renewable energies was poised for massive development.
Zhero Europe and TotalEnergies: A common goal of 100 GW of renewable energies
The company develops and operates green energy and infrastructure projects in the United States, Europe, the Middle East and Africa. Zhero’s first objective is to bring the equivalent of 5 GW of projects to the final investment decision phase by 2026. TotalEnergies and renewable electricity As part of its ambition to achieve carbon neutrality by 2050, TotalEnergies is developing a portfolio of activities in renewable energies and electricity.
At the end of July 2023, its gross renewable electricity generation capacity was 19 GW. TotalEnergies intends to pursue the development of its activities in order to reach a gross production capacity from renewable sources and storage of 35 GW in 2025, then 100 GW in 2030, with the aim of becoming one of the world’s top 5 producers of electricity from wind and solar sources. About TotalEnergies: TotalEnergies is a global multi-energy company producing and supplying energy: oil and biofuels, natural gas and green gas, renewables and electricity.
100,000 employees are committed to making energy ever more affordable, cleaner, more reliable and accessible to as many people as possible. Present in nearly 130 countries, TotalEnergies places sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of populations.
