Paris-based ZE Vitality, an impartial producer of renewable power specializing in Battery Vitality Storage Techniques (BESS), has raised €54 million in a funding spherical led by Amundi Transition Énergétique.
The funding brings new stakeholders to ZE Vitality, together with Amundi’s Core+ infrastructure funds and Demeter’s Local weather Infrastructure Fund, a notable participant in power transition financing. Present shareholder Sorégies additionally contributed to the spherical, alongside Marguerite, HTGF, and ZE WAY INVEST.
In accordance with Matthieu Poisson, CEO of Amundi Transition Énergétique, this partnership marks a dedication to supporting the infrastructure for sustainable power options: “We’re very optimistic in regards to the improvement of infrastructure options combining photo voltaic power manufacturing and storage (BESS), permitting us to play a key function within the decarbonization of the electrical energy system.” Poisson added, “We’re delighted to companion with the founders, present shareholders, and administration crew of ZE Vitality, a crew that has confirmed its potential by its achievements since inception. We stay up for supporting them on this European development and enlargement plan.”
Driving the renewable power transition
Based in 2019, ZE Vitality has rapidly established itself as a pacesetter in renewable power with a deal with hybrid solar energy crops that combine photovoltaic techniques with power storage, tailor-made particularly for continental Europe. ZE Vitality manages all elements of its initiatives, from improvement and financing to development and operation. It sells inexperienced power on to shoppers or by tenders, aiming to supply steady, dependable power options.
Mathieu Lassagne, founding father of ZE Vitality, emphasised the worth of the corporate’s strategy within the present market: “In a context of accelerating volatility in photo voltaic power costs, the mannequin proposed by ZE Vitality stands out as a high-performance resolution, supporting a managed power transition.” He additional famous, “Our mannequin, which mixes photo voltaic manufacturing with power storage, can be assembly rising curiosity. Within the first half of 2024, photo voltaic power costs have more and more turn out to be adverse attributable to overproduction at sure occasions. With the ability to retailer this power, and thus keep away from worth volatility, is the optimum resolution for each producers and shoppers.”
Strategic development with contemporary capital
ZE Vitality intends to make the most of the newly raised funds to assist its enlargement throughout Europe over the following two years. With a present mission portfolio exceeding 1 GW in photo voltaic capability and over 400 MW in battery storage, the corporate plans to develop its operational and construction-ready portfolio to 900 MW of solar energy and 600 MWh of storage by 2026.
Philippe Detours, Managing Associate at Demeter, shared his insights on ZE Vitality’s function in selling power effectivity: “With its hybrid property, the corporate is introducing an power effectivity strategy that aligns completely with the imaginative and prescient and funding thesis of the Local weather Infrastructure Fund. This fundraising will assist ZE Vitality’s development in France and internationally.”
Sorégies, a longstanding companion of ZE Vitality, echoed these sentiments. Frédéric Bouvier, Chairman of the Government Board of the Sorégies Group, said: “Flexibility is a significant problem for the power transition. Because of this, we’re persevering with our collaboration, capitalizing on the complementarity of our approaches and the success of our joint achievements. Our partnership results in the event of environment friendly options that provide our prospects inexperienced, native, controllable electrical energy at a steady worth. Collectively, we’re pursuing our objective of creating the power transition accessible to all.”
ZE Vitality’s current funding spherical underscores the rising investor curiosity in sustainable power options that combine renewable power manufacturing with superior storage applied sciences. By supporting photo voltaic manufacturing and storage in Europe, ZE Vitality goals to supply resilient, environmentally accountable options that serve each producers and shoppers whereas fostering power stability throughout the continent.
