TotalEnergies, Baker Hughes, Technip Energies, Azimut and other investors to invest in Zhero Europe's Green Energy Expansion
03 Agosto 2023 - 4:10AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), Baker Hughes,
Technip Energies, Azimut (through the fund Azimut ELTIF –
Infrastructure & Real Assets ESG) and other investors have
signed 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.”
***
About Zhero Zhero was founded by Marco Alverà, Paddy
Padmanathan, Alessandra Pasini and Enrico Vitali at a time when a
new generation of renewables are positioned for massive scale-up.
The company is developing and will operate green energy production
and infrastructure projects in the US, Europe, Middle East and
Africa. Zhero is working towards a first target of bringing to FID
5GW of projects by 2026.
TotalEnergies and renewables electricity As part of its
ambition to get to net zero by 2050, TotalEnergies is building a
portfolio of activities in electricity and renewables. At the end
of July 2023, TotalEnergies' gross renewable electricity generation
installed capacity was 19 GW. TotalEnergies will continue to expand
this business to reach 35 GW of gross production capacity from
renewable sources and storage by 2025, and then 100 GW by 2030 with
the objective of being among the world's top 5 producers of
electricity from wind and solar energy.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in nearly 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
@TotalEnergies - TotalEnergies - TotalEnergies
- TotalEnergies
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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