TotalEnergies, Baker Hughes, Technip Energies, Azimut, and others to invest in Zhero Europe's green energy expansion
Published by Jessica Casey,
Editor
Energy Global,
TotalEnergies, Baker Hughes, Technip Energies, Azimut (through the fund Azimut ELTIF – Infrastructure & Real Assets ESG), and other investors have signed a preliminary agreement to invest in Zhero Europe in order to develop large scale renewable energies projects in Europe and Africa spanning across renewable power generation, power interconnections, and green molecules.
Zhero Europe was founded with the vision that large integrated projects, including generation from high-quality wind and solar resources and captive long-distance exports, would be the most effective way to accelerate the energy transition in high demand areas.
With this round of financing, Zhero Europe will advance the development of its project portfolio, leveraging the world class expertise of its new investors.
Paddy Padmanathan and Alessandra Pasini, respectively Chairmain and CEO of Zhero Europe, commented: “We are thrilled to welcome new investors who share our ambition to accelerate the energy transition by delivering large scale bankable projects that will inspire others to follow. Green energy is already cheaper than fossil fuels in many countries and we need to accelerate project development and construction to mitigate the growing gap between climate action and climate ambition. There is no time to lose.”
Stephane Michel, President Gas, Renewables & Power at TotalEnergies, said: “Zhero Europe’s bold ambition is to bring abundant, affordable and clean energy from the best producing location to the large consuming markets and notably from North Africa, to Europe. We welcome the opportunity to join forces with Zhero Europe and its other investors to support the development of those pioneering projects for the mutual benefit of Europe and Africa.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Summer 2023 issue
The Summer 2023 issue of Energy Global hosts an array of technical articles focusing on alternative fuels, battery storage solutions, solar optimisation, and more. This issue also features a regional report on the recent developments in the European renewables market.
Read the article online at: https://www.energyglobal.com/wind/03082023/totalenergies-baker-hughes-technip-energies-azimut-and-others-to-invest-in-zhero-europes-green-energy-expansion/
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