REG - Zenith Energy Ltd - Acquisition of 5 MWp solar development projects

Zenith EnergyAnnouncement

Mon 13:00

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RNS Number : 0675C  Zenith Energy Ltd  27 April 2026

April 27, 2026

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of 5 MWp solar development projects

 

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), is pleased to
announce the acquisition of two solar development projects, both situated in
the Province of Puglia in Italy, of 2.5 MWp each (collectively, the "Puglia
Acquisitions").

 

Highlights

 

·      Two solar development projects in Puglia, each with a capacity of
2.5 MWp: a 2-hectare photovoltaic plant and a 5-hectare agrivoltaic project,
both located in areas designated for solar PV and agrivoltaic development.

·      Classified as being at the Development Stage.

 

·      Payment will be made upon securing all required permits and
achieving Ready-to-Build status at the conclusion of the development process.

 

·      The land has been acquired at an average price of approximately
€70,000 per hectare.

 

Solar Development Strategy

 

Following completion of the Puglia Acquisitions, Zenith's solar development
pipeline has increased to a total of 183.5 MWp, representing a further
expansion from the 173.5 MWp reported in the Company's most recent independent
valuation as of March 31, 2026, which assigned a total value of EUR 54.7
million to the portfolio.

 

The expansion of the pipeline is expected to support further value creation as
projects advance through permitting, Ready-to-Build, and construction stages.
The Company remains focused on increasing the scale and quality of its
portfolio while progressing assets towards monetisation and production.

 

Andrea Cattaneo, Chief Executive Officer, commented:

 

"The Puglia acquisitions, with a combined capacity of 5 MWp, increase Zenith's
solar development pipeline to 183.5 MWp and further strengthen our presence in
the Puglia market.

 

We are now approaching our target of 200 MWp and are excited to begin
construction of our first site in July 2026. At the same time, we are
advancing other projects towards the Ready-to-Build stage and exploring the
divestment of selected assets on potentially highly advantageous terms to
support further expansion."

 

 

Overview of Zenith Energy's solar portfolio as of April 27, 2026

 

 Project / stage                                         Capacity (MWp)  Status                    Notes
 Liguria Solar Asset                                     0.5             Production / upgrade      Currently producing 0.2 MWp; upgrade to 0.5 MWp planned.
 Lazio Agrivoltaic Project 1                             10.0            Development               First Lazio acquisition announced August 6, 2025.
 Lazio Agrivoltaic Project 2                             8.0             Development               First announced August 27, 2025.
 Lazio Agrivoltaic Development Project                   10.0            Development               Acquisition announced on March 20, 2026. Planned under PAS procedure.
 Piedmont Agrivoltaic Development Projects               30.0            Development               Acquisition comprising various agrivoltaic projects announced August 11, 2025.
 Piedmont PV Development Project                         10.0            Development               Acquisition announced August 22, 2025.
 Piedmont Agrivoltaic Development Project                19.0            Development               Acquisition announced October 19, 2025.
 Piedmont Advanced Agrivoltaic Development Project       10.0            Development               Acquisition announced February 2, 2026.
 Piedmont Agrivoltaic Development Project                23.0            Development               Acquisition announced on March 13, 2026.
 Piedmont Agrivoltaic Development Project                5.0             Development               Acquisition announced on March 13, 2026.
 Puglia Solar Asset ("Andria-1")                         3.0             Under Construction        Construction starting July 2026.
 Puglia Development Asset ("Andria-2" and "Barletta-1")  6.0             Development (late-stage)  Acquisition announced September 16, 2025.
 Puglia Solar Development (PV + BESS)                    10.0            Development               Acquisition signed October 9, 2025.
 Puglia PV Development ("Andria 3" and "Andria 4")       4.0             Under Construction        Construction starting July 2026.
 Puglia PV Development                                   10.0            Development               Acquisition announced November 17, 2025.
 Puglia Ground-Mounted PV Projects (two sites)           5.0             Development               Acquisition announced February 18, 2026.
 Puglia PV Development                                   2.5             Development               Announced today.
 Puglia Agrivoltaic Development                          2.5             Development               Announced today.
 Puglia Photovoltaic Project (PV + BESS)                 10.0            Development               Acquisition announced on March 5, 2025.
 Puglia PV Project                                       5.0             Development               Announced on April 23, 2026.
 Total portfolio                                         183.5

 

 

 

 

Further Information:

  Zenith Energy Ltd                          Tel: +1 (587) 315 1279

 Andrea Cattaneo, Chief Executive Officer   E: info@zenithenergy.ca (mailto:info@zenithenergy.ca)

 

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with
energy production, exploration and development assets in North Africa, the US
and Europe. The Company is listed on the London Stock Exchange Main Market
(LSE: ZEN), the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and on
the Spotlight Stock Market in Sweden (XSAT: ZENA SDR).

Zenith's strategic focus is on pursuing development opportunities through the
development of proven revenue generating energy production assets, as well as
low-risk exploration activities in assets with existing production.

For more information, please visit: www.zenithenergy.ca

Twitter: @zenithenergyltd

LinkedIn: https://bit.ly/3A5PRJb (https://bit.ly/3A5PRJb)

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of
this announcement via a Regulatory Information Service ("RIS"), this inside
information is now considered to be in the public domain.

 

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