French solar-plus-storage biz Ze Energy raises EUR-40m in B round

• France's Ze Energy, an independent power producer (IPP) specialising in solar-plus-storage projects, has elevated EUR 40 million (USD 45.1 m) in Series B round to improve its service and get in new markets.

Pan-European equity fund Marguerite and French local utility Groupe Soregies made their initial financial investments in Ze Energy, joining the company's preliminary backers Demeter, HTGF, EverWatt and Ze Way Invest, the IPP said on Thursday.

The capital injection will certainly sustain Ze Energy's development plans for 2022, that include establishing visibility in Italy as well as Spain and also being more powerful at home.

The company will additionally seek to boost direct sales via corporate power acquisition agreements (CPPAs) and acquire colony to develop its solar-plus-storage plants, it said.

Currently, Ze Energy has a portfolio of over 300 MW of solar PV and over 120 MW of battery storage projects. Its target is to get to greater than 800 MW of solar capability, over 300 MW of battery power in 5 countries, and also a turn over of around EUR 60 million by 2025, it stated.

" We are thrilled by this second round of funding that will give us extra sources to accelerate our advancement in the competitive renewable resource market in France as well as abroad," claimed Ze Energy chief executive officer Mathieu Lassagne. "This procedure shows the toughness of our organization design and also of our placing as a multi-country independent manufacturer focusing on flexible production of solar power marketed in a short circuit to companies and also communities."