TotalEnergies, along with companies Baker Hughes, Technip Energies, Azimut, and others, have signed a preliminary agreement to invest in Zhero Europe. The purpose of this investment is to develop large-scale renewable energy projects across Europe and Africa.
The projects will focus on renewable generation from wind and solar, as well as power interconnections and green molecules to support the energy transition. The goal is to deliver bankable projects that will inspire and encourage others to follow suit.
Zhero Europe, founded by Paddy Padmanathan, Alessandra Pasini, Marco Alverà, and Enrico Vitali, aims to develop and operate green energy production and infrastructure projects in the U.S., Europe, and the Middle East. By 2026, the company hopes to have 5 gigawatts of projects in the final investment decision phase.
The need to accelerate project development and construction is crucial, as it will help bridge the gap between climate action and climate ambition. Green energy is already cheaper than fossil fuels in many countries, and there is a pressing urgency to mitigate the effects of climate change.
The investment from TotalEnergies and its partners will play a significant role in advancing the energy transition and achieving climate goals. This partnership demonstrates a commitment to renewable energy and highlights the importance of collaboration in driving sustainable solutions.
By investing in Zhero Europe, these companies are actively contributing to the growth and development of large-scale renewable energy projects. Their investment will not only have a positive impact on the environment but also help shape the future of the energy industry.
