REG - Zenith Energy Ltd - Acquisition of Solar & Energy Storage Project

Zenith EnergyAnnouncement

09/10/2025 09:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251009:nRSI7413Ca&default-theme=true

RNS Number : 7413C  Zenith Energy Ltd  09 October 2025

October 9, 2025

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of Solar Project & Energy Storage

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 signing of a new agreement to acquire a solar
energy development project located in the Puglia region of Italy (the "Puglia
Acquisition") by its wholly-owned Italian subsidiary created to manage its
solar energy portfolio, WESOLAR S.R.L. ("WESOLAR").

Highlights of Puglia Acquisition

·      The Puglia Acquisition is located in the Puglia region of Italy
and will have a combined installed capacity of approximately 10 MWp.

·      In addition, the Company has purchased two hectares of land to
host its first battery energy storage system ("BESS").

·      The BESS is designed to store electricity generated during
low-price periods and resell it during higher-priced "fasce orarie"
(time-of-use tariff periods), thereby maximizing the profitability of energy
production. In Italy, electricity prices vary across the day - with peak
hours ("fasce orarie di punta") commanding significantly higher prices -
allowing the system to optimize returns through strategic energy storage and
release.

·      The Puglia Acquisition is currently classified as being at
the 'Development' stage.

·      Puglia is among Italy's most favourable regions for solar power
generation, benefiting from high solar irradiation levels that deliver
a superior economic yield for photovoltaic projects.

·      The Puglia Acquisition consolidates the Company's presence in
Puglia and complements its existing development pipeline in Piedmont and
Lazio. Collectively, these three clusters form a strategically significant
solar development portfolio across Italy's most attractive renewable energy
generation areas.

·      Italy continues to rank among the global leaders in
photovoltaic technology and installation.

·      The Company expects to achieve 'Ready-to-Build' status within
12-16 months.

·      The total consideration for the Puglia Acquisition is EUR
875,000, which includes the purchase of the associated land. Payment will
be conditional upon obtaining all the necessary permits to reach
'Ready-to-Build' status.

 

Overview of Zenith Energy's Solar Portfolio (as of October 9, 2025)

 Project / Stage                            Capacity (MWp)  Status               Notes
 Liguria Solar Asset                          0.5           Production Upgrade   Currently producing 0.2 MWp, upgrade to 0.5 MWp planned.
 Puglia Solar Asset                           3.0           Ready-to-Build       All permits obtained, grid connection ready, announced on July 30, 2025.
 Piedmont Photovoltaic Project              10.0            Development          Originally an agrivoltaics project, but subsequently reclassified to
                                                                                 photovoltaic as announced on August 22, 2025.
 Lazio Agrivoltaic Projects                 15.0            Development          First Lazio acquisition (10 MWp) announced Aug 6, 2025. Second acquisition (5
                                                                                 MWp) announced on August 27, 2025.
 Piedmont Agrivoltaic Development Projects  30.0            Development          Multi-site acquisition announced on August 11, 2025.
 Puglia Solar Development Asset               6.0           Development          Acquisition signed on September 16, 2025.
 Puglia Solar Development                    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.
 Total Portfolio                            74.5

 

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

"We are pleased to continue enlarging our solar energy development portfolio,
implementing a 'cluster' development strategy centred on the most favourable
regions in Italy both technically and in terms of permitting: Puglia, Piedmont
and Lazio.

The planned development of a Battery Energy Storage System (BESS) project
represents an important milestone in strengthening our commercial positioning
within the evolving energy market. Energy storage is becoming a key value
driver, enabling operators to capture price differentials by storing energy
when supply is high and selling during peak-demand periods when margins are
strongest.

This project reflects our disciplined approach to identifying opportunities
with attractive risk-return profiles and scalable potential. As grid
infrastructure and market mechanisms mature, we see storage assets as critical
enablers of both operational flexibility and revenue optimisation across our
renewable portfolio.

This BESS investment underscores our confidence in the long-term fundamentals
of energy storage as a core pillar of future energy economics - combining
innovation, efficiency, and strong commercial rationale."

 

 

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.

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQPKCBQFBDKKKK