Eurazeo has purchased a majority stake in SMP Energies, a French company specializing in geothermal drilling, through its Planetary Boundaries Fund (EPBF). This investment aims to position SMP Energies as a leading player in deep drilling and decarbonized energy solutions within Europe.
This marks the second investment by EPBF since its inception in March 2025. The fund focuses on scaling businesses that tackle environmental issues, particularly climate change and pollution. SMP Energies is recognized as France’s top contractor for geothermal well construction and maintenance, having drilled over 60 wells to date. The company offers comprehensive services that include drilling, workovers, and well abandonment for both domestic and international markets.
As demand for deep geothermal energy rises across Europe, driven by the need for reliable renewable energy sources and favorable regulatory frameworks, Eurazeo’s investment seems timely. In 2023, the five largest geothermal markets in Europe produced around 8 terawatt-hours (TWh) of energy, with forecasts predicting double-digit growth through 2030.
Erwann Le Ligné and Wilfried Piskula, Partners and Co-Heads of EPBF, expressed their enthusiasm for supporting SMP Energies’ ambition to accelerate geothermal energy development throughout Europe. They emphasized their strategy of investing in small and mid-sized firms that show potential to become leaders in environmental sustainability.
Fabien Lemesnager, CEO of SMP Energies, welcomed the partnership, highlighting that Eurazeo’s long-term investment approach aligns closely with the company’s vision. He indicated that this collaboration would not only expedite growth but also enhance capabilities and broaden the company’s impact in the geothermal sector.
The investment will facilitate SMP Energies’ continued growth through both organic development and strategic acquisitions, aligning with EPBF’s buy-and-build strategy. This venture aims to significantly influence the geothermal landscape in Europe, capitalizing on the increasing interest in sustainable energy solutions.
