ZE Energy Secures $58 Million Funding

ZE Energy, a developer specializing in solar and energy storage projects, raised €54 million (~$58 million) in funding. The funding round was led by Infrastructure Investment Core+, managed by Amundi Energy Transition, with participation from The Climate Infrastructure Fund, which is managed by Demeter.

Existing investors, including Sorégies, Marguerite, HTGF, and ZE WAY INVEST, also took part in this funding round. This capital injection will enable ZE Energy to plan its growth over the next two years, with a particular focus on financing its expansion throughout Europe.

“In an increasingly volatile solar energy market, ZE Energy’s model is emerging as a high-performance solution, serving a controlled energy transition. Our model, combining solar power generation and energy storage, is attracting growing interest. In the first half of 2024, solar energy prices frequently became negative due to overproduction during certain hours. The ability to store this energy, and thus avoid price volatility, is proving to be the optimal solution for both producers and consumers.” says Mathieu Lassagne, founder of ZE Energy.

Founded in 2019, the France-based company develops, finances, and operates hybrid power plants. It currently has a project portfolio of over 1 GW in photovoltaic solar power and over 300 MW of battery capacity. By the end of 2026, the company aims to have an operational and ready-to-build project portfolio of over 900 MW in solar PV and an operational battery capacity of more than 600MWh.

According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, VC funding activity decreased 29% year-over-year, with $2.7 billion raised in 29 deals compared to $3.8 billion from 33 deals in the first half of 2023.

In April, Nexamp, a developer of solar and storage projects, secured $520 million in a funding round led by Manulife Investment Management alongside existing investors Diamond Generating Corporation and Generate Capital.


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