REG - Zenith Energy Ltd - Independent valuation of solar energy pipeline

Zenith EnergyAnnouncement

04/12/2025 09:15

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RNS Number : 2690K  Zenith Energy Ltd  04 December 2025

December 4, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Independent valuation of Zenith's solar energy development pipeline

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 that it has
received the results of an independent valuation of its existing solar energy
development pipeline (the "Development Pipeline").

The independent valuation has been conducted by a prominent Italian
consultancy firm with recognised expertise in the renewable energy and solar
industries. As it is based on specific assumptions and information, the
valuation remains subject to the inherent risks and uncertainties typical of
renewable energy project development.

 

Highlights

·    Total Development Pipeline capacity: 110.5 MWp.

·    Independent valuation of the Development Pipeline: €27,500,000.00
(approximately US$32 million / NOK 322 million / SEK 300 million).

 

Zenith has previously informed the market of its intention to sell a 50%
interest in the portfolio once projects reach Ready-to-Build ("RTB") status.
Based on the independent valuation, the implied value of a 50% interest is
€13.75 million.

 

The Development Pipeline comprises a continuous stream of projects progressing
through key development milestones, including:

 

·    Securing control of project sites.

·    Permitting and authorisations for the installation of Photovoltaic
panels and associated equipment.

·    Securing connection to the power grid.

 

RTB is the stage at which the principal permits, authorisations and grid
connection requirements are in place, enabling construction to commence.
Following RTB, projects progress through construction and commissioning, with
commercial revenues generated once projects are connected and operational.

 

Andrea Cattaneo, Chief Executive Officer, commented:

"Zenith is an industrial company with a strong track record of bringing energy
assets into production. We began producing oil in July 2010, natural gas in
June 2013, and electricity in July 2014.

Following the asset seizures carried out by the Republic of Tunisia, we made
the strategic decision to broaden our industrial base by focusing on Europe
and expanding into the development and construction of solar parks. As part of
this strategy, we have grown our solar development pipeline from an initial
target of 20 MWp to 110.5 MWp.

The independent valuation we have received supports this strategic direction
and confirms the potential attractiveness of the 50% interest we plan to offer
for sale once the projects reach RTB status. We believe this provides
shareholders with additional reassurance regarding the value-creation
potential of our renewable energy development activities."

 

Further Information:

 Zenith Energy Ltd

 Andrea Cattaneo, Chief Executive Officer

                                            Tel: +1 (587) 315 1279

                                            E: 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.

Zenith Energy is listed on the London Stock Exchange Main Market (LSE:ZEN),
has its entire common share capital admitted to trading on the Euronext Growth
of the Oslo Stock Exchange (OSE:ZENA), and has Swedish Depository Receipts
admitted to 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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