REG - Zenith Energy Ltd - Acquisition: 30 MWp Agrivoltaic Project in Italy

Zenith EnergyAnnouncement

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RNS Number : 6943U  Zenith Energy Ltd  11 August 2025

August 11, 2025

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of 30 MWp Agrivoltaic Development Projects

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the
listed international energy production and development company, is pleased to
announce the acquisition of 5 development-stage agrivoltaic solar energy
production projects located in the region of Piedmont, Italy (the
"Acquisitions"),  by its wholly-owned Italian solar energy portfolio
subsidiary, WESOLAR S.R.L. ("WESOLAR").

Acquisitions Highlights

·      The Acquisitions comprises of 5 agrivoltaic solar energy
development projects located in the Piedmont region of Italy, with a combined
installed capacity of approximately 30 MWp.

·      Agrivoltaic technology integrates agricultural activities with
solar energy production, optimising land use and supporting sustainable
agricultural practices. It is planned that each project will utilize
single-axis tracker systems on agricultural land to maximize solar energy
generation efficiency.

·      Italy stands out as one of the leading countries worldwide in
agrivoltaic technology and implementation.

·      The Company expects the Acquisitions will all achieve
'Ready-to-Build' status within the next 12-16 months.

·      The consideration for the Acquisitions is EUR 3,100,000, which
includes the purchase of the land hosting the Acquisitions, and will be
payable conditional to the achievement of all the necessary permits to
achieve 'Ready-to-Build' status.

Zenith's Solar Energy Portfolio now includes:

·      Liguria Solar Asset: 0.5 MWp (Operational, currently producing at
0.2 MWp).

·      Puglia Solar Asset: 3 MWp (Ready-to-Build).

·      Agrivoltaic Development Project in Piedmont: 7 MWp (Development
Stage).

·      Agrivoltaic Development Project in Lazio: 10 MWp (Development
Stage).

·      Agrivoltaic Development Projects in Piedmont: 30 MWp (Development
Stage).

Following additional due diligence, the Company has elected not to exercise
the exclusive option for the Ready-to-Build projects located in Lazio, Italy,
for a combined total of 2 MWp, announced on May 30, 2025.

 

Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to announce the Acquisitions, representing our largest solar
energy acquisition to date.

In the space of only six months, our team, working closely with legal and
technical consultants, has built a diversified portfolio exceeding 50 MWp,
laying the foundations for the Company's long-term future of revenue
generation and profitability.

Zenith now holds a significantly expanded and diversified portfolio of solar
assets spanning operational, ready-to-build, and development stage.

 

It is our intention to continue expanding the portfolio in a sustained manner,
with the opportunity of strategically partnering, in respect of specific
larger development assets, with major utility companies to balance our
financing requirements.

 

Alongside the technical and legal due diligence, our efforts have also been
concentrated on financing the development of the portfolio we have created. To
this end, we are in advanced discussions with specialised lenders in the
renewables industry who will provide the necessary funding for the
construction of the infrastructure."

 

 

 

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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