- Investors signed a preliminary agreement to fund Zhero Europe's renewable energy projects in Europe and Africa.
- Zhero Europe aims to bring 5GW of projects to FID by 2026.
- TotalEnergies plans to reach 35 GW of renewable capacity by 2025 and 100 GW by 2030.
- Zhero Europe focuses on wind, solar, and green molecules for energy transition.
Investment Agreement
TotalEnergies, Baker Hughes, Technip Energies, Azimut, and other investors have signed a preliminary agreement to invest in Zhero Europe. This investment aims to develop large-scale renewable energy projects in Europe and Africa, focusing on renewable power generation, power interconnections, and green molecules.
Zhero Europe's Vision
Zhero Europe was founded with the vision that large integrated projects, including high-quality wind and solar resources and long-distance exports, are the most effective way to accelerate the energy transition in high-demand areas. The new round of financing will help Zhero Europe advance its project portfolio, leveraging the expertise of its new investors.
Project Development
Zhero Europe aims to bring 5GW of projects to Final Investment Decision (FID) by 2026. The company is developing and will operate green energy production and infrastructure projects in the US, Europe, Middle East, and Africa.
TotalEnergies' Renewable Goals
TotalEnergies is building a portfolio in electricity and renewables as part of its ambition to achieve net zero by 2050. As of July 2023, TotalEnergies' gross renewable electricity generation installed capacity was 19 GW. The company plans to expand this to 35 GW by 2025 and 100 GW by 2030, aiming to be among the world's top five producers of electricity from wind and solar energy.
