REG - Zenith Energy Ltd - Acquisition of PV development in Rome, Italy

Zenith EnergyAnnouncement

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RNS Number : 3658H  Zenith Energy Ltd  08 June 2026

June 8, 2026

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of PV development project in Rome, Italy

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the international
energy production and development company, is pleased to announce the
acquisition of an additional 5 MWp ground-mounted photovoltaic development
project located within the Metropolitan City of Rome in the Lazio region of
Italy (the "Rome PV Project").

This acquisition further strengthens Zenith's growing Italian renewable energy
portfolio and represents another important step towards the Company's stated
objective of exceeding 200 MWp of solar development capacity by the end of
2026.

 

Highlights

•     The Rome PV Project brings Zenith's total solar development
pipeline to 188.5 MWp, representing 94% of the Company's 200 MWp target for
2026.

•     The site occupies a strategically prime location on the A1
motorway corridor north of Rome, adjacent to an established industrial area
and connected to Central and Northern Italy's major transport infrastructure.

•     Consideration is payable only upon securing all required permits
and achieving Ready-to-Build status, in line with the Company's
capital-efficient acquisition model.

•     The total land consideration for the Rome PV Project is EUR
440,000.

 

Solar Development Strategy

The acquisition of the Rome PV Project increases Zenith's solar development
pipeline to 188.5 MWp, marking substantial progress in the execution of the
Company's solar strategy since its launch eighteen months ago and building
upon more than a decade of operational experience in Italy's electricity
sector.

In the Company's most recent independent valuation as at March 31, 2026, 173.5
MWp of the pipeline was assigned a value of EUR 54.7 million. With the
pipeline now expanded to 188.5 MWp and continuing to grow, the Company expects
this valuation to increase materially when it is next updated.

The most immediate milestone for the Company is the completion of its first
operational asset cluster, comprising three solar plants in Puglia with a
combined capacity of 7 MWp. Construction is expected to commence in July 2026,
with commissioning targeted for Q3 2026. Upon commissioning, the cluster will
represent the first projects Zenith has taken from acquisition through to
electricity production and will mark the Company's transition to a renewable
energy producer with operating revenues.

 

Andrea Cattaneo, Chief Executive Officer, commented:

"Rome is one of the most strategically significant locations we have
identified since launching our Italian solar programme, and this acquisition
increases our development pipeline to 188.5 MWp, bringing us closer to our
stated target of 200 MWp for 2026.

In just eighteen months, we have established a substantial solar development
portfolio in Italy by leveraging the operational expertise and market
knowledge developed through more than a decade of electricity production
activities in the country. We are now approaching an important milestone with
the expected commissioning of our first solar plant in Puglia during Q3 2026,
which we believe will provide a catalyst for the next independent valuation of
our solar portfolio.

The portfolio was independently valued at EUR 54.7 million as at 31 March
2026, based on 173.5 MWp of projects. With the pipeline now expanded to 188.5
MWp and continuing to grow, we believe there is considerable scope for further
value creation as projects continue to advance through development.

In addition, we are evaluating a potential disposal of one of our development
projects to a leading national renewable energy operator. If completed, the
transaction would be consistent with our strategy of selectively monetising
assets to realise value and organically redeploy capital into the development
and construction of additional projects across our portfolio. We believe such
a transaction could unlock significant value for shareholders while providing
additional funding to accelerate the progression of other pipeline assets
towards production, and we look forward to updating the market as discussions
progress.

We continue to identify and secure high-quality development opportunities at
attractive entry valuations and remain very confident in the long-term growth
prospects of our Italian solar business, underpinned by favourable electricity
price fundamentals and the increasing strategic importance of renewable energy
generation in Italy."

Overview of Zenith Energy's solar portfolio as of June 8, 2026

 

 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 announced August 6, 2025.
 Lazio Agrivoltaic Project 2                             8.0             Development               First announced August 27, 2025.
 Lazio Agrivoltaic Development Project                   10.0            Development               Acquisition announced on March 20, 2026. Planned under PAS procedure.
 Rome PV Development Project                             5.0             Development               Announced today.
 Piedmont Agrivoltaic Development Projects               30.0            Development               Acquisition comprising various agrivoltaic projects announced August 11, 2025.
 Piedmont PV Development Project                         10.0            Development               Acquisition announced August 22, 2025.
 Piedmont Agrivoltaic Development Project                19.0            Development               Acquisition announced October 19, 2025.
 Piedmont Advanced Agrivoltaic Development Project       10.0            Development               Acquisition announced February 2, 2026.
 Piedmont Agrivoltaic Development Project                23.0            Development               Acquisition announced on March 13, 2026.
 Piedmont Agrivoltaic Development Project                5.0             Development               Acquisition announced on March 13, 2026.
 Puglia Solar Asset ("Andria-1")                         3.0             Under Construction        Construction starting July 2026.
 Puglia Development Asset ("Andria-2" and "Barletta-1")  6.0             Development (late-stage)  Acquisition announced September 16, 2025.
 Puglia Solar Development (PV + BESS)                    10.0            Development               Acquisition signed October 9, 2025.
 Puglia PV Development ("Andria 3" and "Andria 4")       4.0             Under Construction        Construction starting July 2026.
 Puglia PV Development                                   10.0            Development               Acquisition announced November 17, 2025.
 Puglia Ground-Mounted PV Projects (two sites)           5.0             Development               Acquisition announced February 18, 2026.
 Puglia PV Development                                   2.5             Development               Announced today.
 Puglia Agrivoltaic Development                          2.5             Development               Announced today.
 Puglia Photovoltaic Project (PV + BESS)                 10.0            Development               Acquisition announced on March 5, 2025.
 Puglia PV Project                                       5.0             Development               Announced on April 23, 2026.
 Total portfolio                                         188.5

 

 

 

 

 

Further Information:

  Zenith Energy Ltd                          Tel: +1 (587) 315 1279

 Andrea Cattaneo, Chief Executive Officer   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

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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