This paper addresses the low-frequency noise characterization of Z2-FET structures. These double-gated p-i-n diode devices have been fabricated at STMicroelectronics in an ultrathin body and box (UTBB) 28-nm FDSOI technology and designed to operate as 1T-DRAM memory cells, although other applications, as for example electro static discharge (ESD) protection, have been reported. The experimentally extracted power spectral density of current reveals that the high-diode series resistance, carrier number fluctuations due to oxide traps, and gate leakage current are the main noise contributors at high-current regimes. These mechanisms are expected to contribute to the degradation of cell variability and retention time. Higher flicker noise levels have been reported when increasing the vertical electric field. A simple model considering the contribution of the main noise sources is proposed.