Zhero Europe, a firm focused on green and clean energy projects, has signed a preliminary agreement to receive funding from a group of investors to accelerate the transition to sustainable energy and bridge the gap between climate ambition and climate action.
Investors in this agreement include TotalEnergies, Baker Hughes, Technip Energies, Azimut (through the fund Azimut ELTIF – Infrastructure & Real Assets ESG), and several others.
Paddy Padmanathan and Alessandra Pasini, respectively Chairman and CEO of Zhero Europe say, “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.”
Capital utilisation
The funds obtained from these investors will be utilised to support the development of large-scale renewable energy projects in both Europe and Africa.
These projects will cover various aspects, including renewable power generation, power interconnections, and the production of green molecules.
A developer of green and clean energy projects
Zhero Europe’s founding vision revolves around large integrated projects, utilising high-quality wind and solar resources, and facilitating captive long-distance exports.
The company believes this approach to be the “most effective” way to expedite the energy transition in areas with high demand for sustainable energy solutions.
Zhero Europe is under the control of Zhero, founded by Marco Alverà, Paddy Padmanathan, Alessandra Pasini, and Enrico Vitali.
Currently, Zhero is involved in the development and operation of green energy production and infrastructure projects across regions such as the US, Europe, the Middle East, and Africa. It is working towards a target of bringing 5GW of projects by 2026.
Zhero’s first investment was in Tree Energy Solutions (TES). TES aims to accelerate the development of a world-leading green energy import facility in Germany.
Zhero claims to have a team with a proven track record of delivering over $100B worth of energy projects across molecules and electrons. They possess deep expertise in energy storage solutions, which is crucial for managing volatility and growing hydrogen volumes.
