Zhero

What Zhero does

Zhero B.V. is a private developer of large-scale clean energy infrastructure, founded in 2022 and headquartered in Amsterdam (Netherlands), with operating offices in Milan (Italy) and Washington DC (United States). The company originates and develops utility-scale projects across four platforms: Medlink (two independent 2 GW HVDC submarine cables linking Algeria and Tunisia to Northern Italy, with dedicated renewables in high-yield desert regions); a stand-alone Battery Energy Storage System pipeline in Italy of approximately 1.5 GW, with the first asset expected online by 2027; the Zhero Molecules Walvis Bay Project in Namibia (≈3 GW of solar PV, ≈1.65 GW of electrolyzers, and up to 500,000 tonnes/year of green ammonia production targeting 2030 commercial operation); and approximately 1 GW of utility-scale solar and battery projects across the US ERCOT, WECC, and MISO markets via Zhero Renewable US, with complementary green hydrogen opportunities. Its underlying technology stack combines commercial PV and wind generation, lithium-ion BESS, voltage-source HVDC submarine transmission, and electrolysis-based green hydrogen/ammonia production, organized under a proprietary investment philosophy called PPWS ("Put the Panels Where It's Sunny") that prioritizes highest-irradiation sites to minimize LCOE.

The business model is project development and asset ownership: Zhero carries projects from origination through development, permitting, financing, and Final Investment Decision, then retains ownership and operation of the assets. Revenue, once projects are commissioned, is expected to come from long-term electricity sales, green molecule offtake (ammonia into fertilizer, maritime, and chemical markets), capacity payments, and asset ownership economics; the company also derives early-stage development services revenue from partners. Customers are concentrated in three verticals: European utilities and grid operators (electricity offtake via HVDC interconnectors and Italian storage), industrial offtakers of green molecules (fertilizer producers, maritime operators, chemicals), and sovereign governments (Namibia for green hydrogen/ammonia, Italy and North African states for interconnector and renewable buildout). The founding team — Marco Alverà (former Snam CEO), Alessandra Pasini (former Snam CFO/International BD), Paddy Padmanathan (former ACWA Power CEO), and Enrico Vitali (former Tremonti Vitali senior partner) — supplies the development credibility that has attracted industrial (TotalEnergies, Baker Hughes, Technip Energies, Fortescue Future Industries) and financial (Galvanize Climate Solutions, Three Cairns Group, Azimut, UniCredit, BlackRock) backers.

Funding history includes an initial October 2022 round from Three Cairns Group, Galvanize Climate Solutions, and Fortescue Future Industries; preliminary investment agreements in August 2023 with TotalEnergies, Baker Hughes, Technip Energies, and Azimut; an upsized €60 million round in April 2024 (Azimut, Baker Hughes, TotalEnergies, UniCredit); and a USD 5.15 million development grant from SDG Namibia One Fund in December 2025. Zhero currently has no commercial operating assets — first storage asset targeted 2027, Namibia ammonia target 2030 — and revenue is not publicly disclosed.

Name

Zhero

Legal name

Zhero B.V.

Website

https://zhero.net

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Zhero B.V. is a private Amsterdam-based developer of utility-scale clean energy infrastructure, originating solar, wind, battery storage, HVDC interconnectors, and green hydrogen/ammonia projects for European utilities, industrial offtakers, and sovereign governments across Europe, North Africa, Namibia, the United States, and the Black Sea corridor.

Ownership category

akta.pro rank

Product category

Clean Energy Infrastructure Development

NAICS

Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114), Electric Bulk Power Transmission and Control (221121)

SIC

Electric, Gas & Sanitary Services (4900), Switchgear & Switchboard Apparatus (3613)

akta.pro primary industry

Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE)

akta.pro secondary industries

Renewable Energy Infrastructure (FSAAAKAG), Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB)

Keywords

• Renewable energy development
• Clean energy infrastructure
• Green hydrogen production
• HVDC power interconnections
• Battery energy storage

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Project Development & Ownership: Zhero develops, owns, and operates large-scale clean energy projects including renewable power generation, hydrogen/ammonia production, interconnections, and energy storage. Revenue generated through sale of electricity, green molecules, capacity payments, and asset ownership.
2. Development Services: Early-stage development services for partners and clients, including feasibility studies, permitting, and preparatory work for renewable energy projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Zhero originates, develops, finances and co-owns large-scale clean energy infrastructure assets across four platforms: cross-border HVDC submarine cable interconnectors (Medlink), utility-scale renewable power generation (solar PV and wind), grid-scale battery energy storage, and green hydrogen/ammonia production via electrolysis. The company sells electricity, green molecules, and storage capacity services to utilities, grid operators, industrial offtakers, and governments, with current flagship projects in Italy, North Africa, Namibia and the United States.

Product overview

Zhero is a developer of large-scale clean energy projects with a portfolio spanning four main offerings: Medlink (2x 2GW HVDC submarine cable interconnector linking North Africa to Italy), a 1.5 GW Energy Storage Platform in Italy, Namibia Green Molecules (3 GW solar-powered green ammonia production facility), and North America Projects (1 GW utility-scale solar and battery developments). The company focuses on renewable power generation, green molecules (hydrogen and ammonia), energy storage, and power interconnections across EMEA and North America.

Differentiator

Problem solved

Functional benefit

Products and services

• Medlink A strategic 2x 2GW South-to-North electricity corridor in the Mediterranean comprising two independent and modular high voltage direct current (HVDC) submarine cables linking Algeria and Tunisia to Northern Italy, carrying green power from newly built solar and wind capacity in high-yield desert regions. Targeted at European utilities, TSOs, and governments for cross-border renewable electricity supply.
• Storage Platform A 1.5 GW stand-alone battery energy storage system (BESS) pipeline in Italy with the first asset expected online by 2027. Includes large-scale installations at strategic grid nodes and smaller integrated solutions deployed at major industrial sites to accelerate energy transition and strengthen national grid stability. Targeted at Italian TSOs/DSOs and industrial customers needing capacity, ancillary services, and flexibility.
• Namibia Green Molecules (Walvis Bay) An industrial-scale green ammonia project near Walvis Bay, Namibia, with approximately 3.0 GW of solar PV and about 1.65 GW of electrolyzers designed to produce roughly 98,000 tonnes of green hydrogen annually, converted into ~500,000 tonnes of green ammonia per year (some sources cite 550,000 tonnes capacity) for export to Europe and global markets. Targeted at fertilizer producers, maritime fuel buyers, and industrial offtakers.
• North America Projects Utility-scale clean energy projects under development in the United States across solar and battery technologies for approximately 1 GW total capacity in key regions including ERCOT (Texas), WECC (Western US) and MISO (Midwest), complemented by green hydrogen opportunities. Targeted at US utilities, corporate offtakers, and grid operators.

Quantifiable outcome

• Targeting 5GW (net to Zhero) FID by 2026
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered supporting and core.

• GECOsupportingStrategic or Co-development Partner · 27 March 2026GECO and Zhero signed MoU to collaborate on Green Energy Corridor project connecting Azerbaijan, Georgia, Romania, and Hungary through energy infrastructure including Black Sea submarine cable linking Georgia and Romania.
• Tree Energy Solutions (TES)coreStrategic or Co-development Partner · 27 October 2022Zhero's first investment was in Tree Energy Solutions (TES), which aims to develop a world-leading green energy import facility in Germany. Marco Alvera serves as Co-Founder & CEO of TES while also leading Zhero.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CWP Global: Independent developer of large-scale renewable energy and green hydrogen projects across EMEA and Australia; comparable project size, geography, and integrated electrons-to-molecules strategy.
• Fortescue Future Industries: Global green energy and green hydrogen/ammonia developer that is both an investor in and a direct competitor to Zhero; pursues the same resource-to-export model in regions like Australia, MENA, and Africa.
• Hyphen Hydrogen Energy: Namibia-anchored green hydrogen developer of a ~5GW ammonia project that is the most direct geographic and product competitor to Zhero's Walvis Bay facility.
• HDF Energy: Listed developer of large-scale hydrogen-to-power plants integrating solar, storage, and electrolyzers; comparable project structure and multi-year development profile to Zhero's integrated platforms.
• Tree Energy Solutions (TES): Green energy import facility developer in Germany that received Zhero's first investment and is co-led by Zhero co-founder Marco Alverà; both target green molecule supply chains from renewables-rich regions into European demand centers.
• Svevind Solar and Hydrogen: European developer of GW-scale solar and green hydrogen projects (e.g., Energy Park H2 in Kazakhstan) targeting European offtake; structurally analogous to Zhero's PPWS philosophy and Africa-Europe integration thesis.

Emerging players

• Sonnedix: European-focused utility-scale solar and storage developer with multi-GW pipeline; comparable B2B and European-offtake GTM motion and a similar development-stage posture on storage.

Broad incumbents

• ACWA Power: Saudi-listed developer/owner of power and green hydrogen assets with ~$75B portfolio; Zhero co-founder Paddy Padmanathan is its former CEO, and ACWA overlaps heavily with Zhero on renewables-to-molecules strategy and target geographies.
• Eni Plenitude: Eni's retail renewables, BESS, and EV subsidiary; competes with Zhero in the Italian storage market and shares the same cross-border Medlink partnership ecosystem.
• Masdar: UAE sovereign-backed global renewables and green hydrogen developer with multi-GW pipeline; targets overlapping geographies (MENA, Australia) and is the most capital-rich incumbent in Zhero's white space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zheroofficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zhero