TotalEnergies and Baker Hughes have been announced as two of the major investors backing Zhero Europe’s green energy expansion.
They have signed a preliminary agreement to invest in the company to develop large-scale renewable energy projects in Europe and Africa.
Zhero Europe is developing and will operate green energy production and infrastructure projects in the US, Europe, Middle East and Africa.
The latest round of financing, which also includes investment from Technip Energies and Azimut, will help advance the development of its project portfolio, leveraging expertise of its new investors.
Paddy Padmanathan and Alessandra Pasini, respectively Chairmain and CEO of Zhero Europe said: “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.”