In a medium sized saucepan heat olive oil over medium heat. Add the zucchini and shallots and cook until softened, about 8 to 10 minutes. Add garlic and cook for another minute.
Once vegetables are very soft, add heavy cream, basil leaves, salt, pepper and parmesan cheese. Bring to a gentle simmer and allow to cook for 5 minutes, stir until all ingredients are incorporated.
While the sauce is simmering, cook the pasta in salted water according to package instructions. When draining the pasta, be sure to reserve 1/2 cup of pasta water.
Add pasta water to zucchini sauce. Using either a hand held immersion blender or a high speed blender, blend the sauce until mostly smooth. Adjust salt as needed.
Toss sauce with pasta and serve topped with more parmesan and freshly ground pepper.