REG - Zenith Energy Ltd - Update on Solar Project in Piedmont, Italy

Zenith EnergyAnnouncement

22/08/2025 07:00

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RNS Number : 3613W  Zenith Energy Ltd  22 August 2025

August 22, 2025

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Update on Solar Project in Piedmont, Italy

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the
listed international energy production and development company, is pleased to
provide an update regarding its acquisition of a 7 MWp agrivoltaic solar
energy project located in the region of Piedmont, Italy (the "Piedmont
Acquisition").

Key Highlights

·      As announced on May 30, 2025, the Company's fully owned
subsidiary, WESOLAR S.R.L., signed an agreement to acquire approximately 13.5
hectares of agricultural land for a consideration of EUR 900,000 (the
"Consideration").

·      Payment of the Consideration and completion of the Piedmont
Acquisition is conditional upon the achievement of all the necessary approvals
and permits in order for construction and commissioning of the solar energy
production infrastructure to take place.

·      The Piedmont Acquisition was originally designed as an
agrivoltaic plant with an installed capacity of 7 MWp. Agrivoltaic technology
integrates agricultural activities with solar energy production, optimising
land use and supporting sustainable agricultural practices. However,
agrivoltaic plants require proportionally more land for the same capacity of
installed MWp.

·      Recent regulatory changes in Italy, brought about by the sentence
of the Council of State number 6160/2025, have enabled the Piedmont
Acquisition to be reclassified.

·      The Piedmont Acquisition has now been projected as a 10MWp solar
energy development project, replacing its previous classification as a 7 MWp
agrivoltaic development project.

·      The reclassification is expected to materially improve the
Piedmont Acquisition's economics, shortening the completion timeline and
simplifying its technical profile, increasing potential electricity production
and associated revenue generation.

 

Andrea Cattaneo, Chief Executive Officer, commented:

"The reclassification of the Piedmont Acquisition to 10 MWp significantly
strengthens its economics and long-term value, enhancing our solar energy
project pipeline.

One of the key determinants for success in the Italian solar energy domain is
an operator's ability to successfully obtain the necessary permitting (at all
levels) in a comprehensive and timely manner.

We look forward to providing further updates in due course regarding potential
additional acquisitions, as well as the formalisation of financing agreements
to support the construction of the portfolio."

 

 

 

 

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) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).

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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