REG - Zenith Energy Ltd - Acquisition of Solar Energy Project in Piedmont

Zenith EnergyAnnouncement

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RNS Number : 3050R  Zenith Energy Ltd  02 February 2026

February 2, 2026

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of Solar Energy Project in Piedmont

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT:
ZENA SDR), the listed international energy production and development company,
is pleased to announce the acquisition of an agrivoltaic project at
development stage located in the Piedmont region of Italy (the "Acquisition"),
through its wholly-owned Italian subsidiary, responsible for managing its
solar energy portfolio, WESOLAR S.R.L. ("WESOLAR").

Overview of the Acquisition

• The Acquisition comprises a photovoltaic solar energy production project
located in the Piedmont region, with an expected installed capacity of
approximately 10 MWp.

• The Acquisition is classified as being in the development stage.

• Piedmont, and particularly the Province of Alessandria, where the new
plant will be developed, is one of the most industrialised areas in Italy.
This characteristic makes the sale of electricity from renewable sources
particularly profitable, due to strong local energy demand. Demand to acquire
this type of project remains consistently high.

• This additional acquisition in Piedmont enables Zenith to further
consolidate its significant presence in the region, where approximately 60 MWp
of projects are already under development, while at the same time
complementing the Company's existing pipeline in Piedmont, Puglia and Lazio.

• Italy stands out as one of the world's leading countries in the
development and implementation of photovoltaic technology.

• The Company expects the project to reach Ready-to-Build status within the
next 12-15 months.

• The consideration for the acquisition of the land for the new project
amounts to EUR 768,215.00, conditional upon the achievement of all necessary
permits to reach Ready-to-Build status.

Advanced negotiations are currently underway for the acquisition of two
additional projects.

Strategy Overview

In the solar energy industry, a "pipeline" refers to the aggregate portfolio
of development projects being actively advanced toward construction day after
day. Zenith's pipeline is composed of projects progressing daily through
design, permitting, and grid-connection milestones, moving step by step toward
Ready-to-Build ("RtB") status. This expanding portfolio carries tangible
market value, which typically increases as projects mature and de-risk through
successive development stages.

 

As previously announced in the Company's regulatory news announcement dated
December 4, 2025, Zenith received the results of an independent valuation of
its existing solar energy development pipeline (the "Pipeline"). At that time,
the pipeline totalled 110.5 MWp and was independently valued at
€27,500,000.00.

Since the independent valuation was completed, Zenith's solar portfolio has
increased to 120.5 MWp as of February 2, 2026. Accordingly, the previously
announced independent valuation does not reflect the additional capacity
acquired since that date. The Company believes that the increase in portfolio
capacity provides further support for the value-creation potential of its
renewable energy development activities, although no updated independent
valuation has been published for the enlarged portfolio.

Zenith intends to maintain a balanced approach across its Italian portfolio,
progressing projects toward RtB status while selectively assessing
opportunities to monetise portions of the development pipeline with
professional counterparties, and to construct selected assets to establish
tangible and recurring electricity production revenue.

Overview of Zenith Energy's Solar Portfolio (as of February 2, 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 (10 MWp) announced Aug 6, 2025.
 Lazio Agrivoltaic Project 2                        7.0             Development         First announced on August 27, 2025, installed capacity has been increased to 7
                                                                                        MWp from 5 MWp.
 Piedmont Agrivoltaic Development Projects          30.0            Development         Acquisition comprising of various agrivoltaics projects announced on August
                                                                                        11, 2025.
 Piedmont PV Development Project                    10.0            Development         Originally an Agrivoltaic project, subsequently reclassified to conventional
                                                                                        solar energy as announced on August 22, 2025.
 Piedmont Agrivoltaic Development Project           18.0            Development         Acquisition signed and announced on October 19, 2025.
 Piedmont Advanced Agrivoltaic Development Project  10.0            Development         Acquisition announced on February 2, 2026. Located in Castelnuovo Scrivia,
                                                                                        Province of Alessandria. Expected RtB within 12-15 months.
 Puglia Solar Asset                                 3.0             Ready-to-Build      All permits obtained, grid connection ready, announced on July 30, 2025.
 Puglia Development Asset                           6.0             Development         Acquisition signed and announced on September 16, 2025.
 Puglia Solar Development (PV + BESS)               10.0            Development         Acquisition signed on October 9, 2025, of development project of approx. 10
                                                                                        MWp and a BESS project with a capacity of up to approx. 10 MW.
 Puglia PV Development                              4.0             Development         Acquisition signed and announced on October 19, 2025. Includes a BESS project
                                                                                        with a capacity of up to approx. 2 MW.
 Puglia PV Development                              12.0            Development         Acquisition signed and announced on November 17, 2025. Includes a BESS project
                                                                                        with a capacity of up to approx. 3 MW.
 Total Portfolio                                    120.5

 

 

Andrea Cattaneo, Chief Executive Officer of Zenith Energy, commented:

"We are pleased to have secured an additional agrivoltaic development project
in Piedmont, further strengthening Zenith's footprint in a high-demand
industrial area in the Province of Alessandria. This acquisition reflects our
continued focus on building a high-quality Italian solar pipeline and
advancing it efficiently through permitting and grid-connection milestones.

With this latest addition, Zenith's Italian solar portfolio increases to 120.5
MWp, reinforcing the scale and strategic positioning of our regional clusters
across Piedmont, Puglia and Lazio.

We believe we can reach a portfolio of 200 MWp by the end of 2026, while
maintaining at the same time the strict discipline we adopted in 2025 in the
choice of locations.

Our priority remains to progress projects toward Ready-to-Build status,
enabling us to both realise near-term value through selective monetisation and
to construct selected assets to generate tangible and recurring production
revenue."

Further Information:

 Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer  Tel: +1 (587) 315 1279

                                            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
(http://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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