REG - Zenith Energy Ltd - 98.5 MWp in Solar Development Projects

Zenith EnergyAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251020:nRST9991Da&default-theme=true

RNS Number : 9991D  Zenith Energy Ltd  20 October 2025

October 20, 2025

 

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Achievement of 98.5 MWp in Solar Development Projects

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 is fully owned Italian solar energy subsidiary,
WESOLAR S.R.L. ("WESOLAR"), has signed two separate agreements to acquire two
solar energy development projects with a combined capacity of 22 MWp
(collectively, the "Acquisitions").

Overview of the Acquisitions

 

Piedmont Acquisition

 

·      An agrivoltaic Development Project with a capacity of 18.0 MWp,
located on flat terrain, which is expected to reduce construction costs.

·      Agrivoltaic technology integrates agricultural activities with
solar energy production, optimising land use and supporting sustainable
agricultural practices.

·      The project is located near other Zenith properties in Piedmont,
reinforcing the Company's 'cluster' strategy.

·      The total consideration is EUR 2,100,000, including the purchase
of the land upon which the Piedmont Acquisition will be constructed.

·      Payment of the consideration is staged and conditional upon
achieving permitting and grid‑connection milestones required to reach
Ready‑to‑Build status.

·      The Company expects the Piedmont Acquisition to achieve
'Ready-to-Build' status within 24 months.

 

Puglia Acquisition

 

·      Photovoltaic Solar Development Project with an installed capacity
of 4.0 MWp.

·      Total consideration: EUR 440,00, staged and conditional upon
achieving permitting and grid‑connection milestones required to reach
Ready‑to‑Build status

·      The Company expects the Puglia Acquisition to achieve
'Ready-to-Build' status within 8 months.

·      The Puglia Acquisition also involves the acquisition of the land
necessary to host the Company's second planned battery energy storage system
("BESS") with a capacity of up to approx. 2 MW.

·      A BESS is designed to store electricity generated during
low-price periods

and resell it during higher-priced (time-of-use tariff periods),

thereby maximising the profitability of energy production. In Italy,
electricity

prices vary across the day, with peak hours commanding significantly higher
prices, allowing the system to optimize returns through strategic energy
storage and release.

·      The Puglia Acquisition is located near other Zenith properties in
Puglia, reinforcing the Company's 'cluster' strategy.

 

Agrivoltaic Development Project announced on August 27, 2025

On August 27, 2025, the Company announced an agreement to acquire 10 hectares
of farmland in the region of Lazio to host a 5 MWp agrivoltaic solar energy
plant (the "Lazio Acquisition").

The Company is pleased to confirm that, following project design and
engineering optimisation the expected installed capacity is now 7 MWp,
compared with 5 MWp previously envisaged, representing an increase of 2 MWp.

Strategy Overview

In the solar energy industry, a 'pipeline' represents the aggregate portfolio
of development projects being actively advanced toward construction start.
Zenith's pipeline consists of projects progressing daily across design,
permitting, and grid connectivity, moving step by step toward Ready-to-Build
(RTB) status.

This growing portfolio already carries tangible market value, which increases
as projects mature through successive stages. Given the optimal
characteristics and development parameters applied by Zenith, the portfolio
could be already sold to professional counterparties, reflecting its strong
commercial quality and competitiveness in the market.

Zenith plans to sell only a portion of its development portfolio. This
strategic divestment will generate immediate profit and strengthen both
profitability and the Company's cash position, while maintaining the Company's
ability to expand its project base and initiate construction of selected solar
projects.

To achieve full transparency and optimal communication with shareholders,
Zenith is commissioning an independent evaluation of its development portfolio
to illustrate the achievements of a journey that began in early 2025.

With the 100 MWp (megawatt peak) development target now substantially
achieved, the Company will define a new capacity goal and broaden its strategy
for the continued growth of electricity production.

Zenith has also initiated work in the Battery Energy Storage Systems (BESS)
segment, a highly attractive and complementary area of development that
enhances grid stability and long-term value creation.

As previously disclosed, funding for these next phases will be secured through
borrowing from specialised renewable lenders and via the sale of portions of
the existing portfolio to interested professional counterparties.

 

Overview of Zenith Energy's Solar Portfolio (as of October 19, 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.
 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 Photovoltaic 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.
 Puglia Solar Asset                           3.0           Ready-to-Build       All permits obtained, grid connection ready, announced on July 30, 2025.
 Puglia Solar 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 Solar 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.
 Total Portfolio                            98.5

 

 

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

"We are delighted to announce the new acquisitions in Puglia and Piedmont,
which further strengthen our regional presence and reinforce Zenith's
strategic 'cluster' development model in Italy's most promising solar regions.
With these additions, our total development portfolio now stands at 98.5 MWp,
bringing us within reach of the important 100 MWp milestone - a clear
testament to our disciplined growth and execution.

The recently acquired Puglia project also highlights our ongoing commitment to
Battery Energy Storage Systems (BESS), a cornerstone of our strategy to
enhance flexibility, grid stability, and long-term value creation. BESS
integration remains central to Zenith's commercial and technical roadmap,
positioning the Company at the forefront of the evolving renewable energy
landscape.

With a robust development base now in place, our next strategic priority is to
build or acquire a near-construction plant that will serve as a tangible proof
of concept through revenue generation supported by bank financing. This
milestone will demonstrate the quality and bankability of our assets, while
further strengthening investor confidence in the scalability and profitability
of Zenith's integrated renewable energy platform.

As we surpass the 100 MWp milestone, Zenith will establish a new capacity
objective and pursue a broadened growth strategy encompassing both solar power
and the BESS segment.

As disclosed, we plan to divest a portion of our pipeline to realise immediate
value and reinforce our cash position, allowing continued acquisition and
construction of selected solar parks. This balanced approach ensures sustained
profitability and long-term value creation, supported by funding from
specialised lenders and interested professional counterparties."

 

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  ACQFKLLFEBLFFBL



            Copyright 2019 Regulatory News Service, all rights reserved