REG - Zenith Energy Ltd - Acquisition of solar development project in Puglia

Zenith EnergyAnnouncement

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RNS Number : 7019B  Zenith Energy Ltd  23 April 2026

April 23, 2026

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of photovoltaic development project in Puglia

 

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), is pleased to
announce the acquisition of a 5 MWp photovoltaic development project located
in Puglia, Italy (the "Puglia Acquisition").

 

The Puglia Acquisition covers approximately 5 hectares of land in proximity to
a motorway, within areas classified as suitable for solar PV development under
the applicable regulatory framework.

 

The land has been acquired at a price of approximately €115,000 per hectare,
reflecting the strategic value of the site in terms of location,
infrastructure access, and proximity to the electricity grid.

 

The Company plans to develop a solar PV plant with an expected installed
capacity of approximately 5 MWp following the Puglia Acquisition.

Overview of the Puglia Acquisition

 

·      A photovoltaic development project with an expected installed
capacity of approximately 5 MWp located in Puglia, Italy.

 

·      In close proximity (approximately 300 meters) to a project
already under development by the Company, for which grid connection has
already been secured and accepted, with expected activation timelines of 90
working days.

·      Classified as being at the development stage.

 

·      Total consideration is EUR 575,000. Payment will be made upon
securing all required permits and achieving Ready-to-Build status at the
conclusion of the development process.

Solar Development Strategy
 

Following completion of the Puglia Acquisition, Zenith's solar development
pipeline has increased to a total of 178.5 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:

 

"With a combined installed capacity of 5 MWp, the project increases Zenith's
solar development pipeline to 178.5 MWp and adds further exposure to the
Puglia market.

 

This acquisition aligns with our strategy of prioritising projects with short
development timelines and near-term revenue potential."

 

 

 
 
 
Overview of Zenith Energy's solar portfolio as of April 23, 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              Development               Acquisition announced on March 20, 2026. Planned under PAS procedure.
 Puglia Solar Project                                    5               Development               Acquisition announced today.
 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 Photovoltaic Project (PV + BESS)                 10.0            Development               Acquisition announced on March 5, 2025.
 Total portfolio                                         178.5

 

 

 

 

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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