Strategic investor joins Colle Santo project
Beacon Energy plc announced that a strategic Italian energy distributor has invested €1.4 million for approximately 10% of LNEnergy Italy, which has now fully consolidated ownership of the Colle Santo project by increasing its working interest to 100%. This transaction maintains Beacon's indirect economic interest in the project at 43.2%, assuming the Second Acquisition is completed, and provides additional capital. The Colle Santo project's NPV10 is estimated at €37.6 million at €40/MWh and €52.9 million at €50/MWh, reflecting significant potential value as the company moves towards production.
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Beacon Energy (AIM:BCE) is pleased to announce that a leading Italian energy distribution company (the "Investor") has subscribed for new shares in LNEnergy Italy for consideration of €1.4 million. As a result, the Investor will hold approximately 10 per cent shareholding in LNEnergy Italy with the remaining 90 per cent held by LNEnergy Limited.
Simultaneously, LNEnergy Italy has increased its working interest in the Colle Santo project from 90 per cent to 100 per cent, fully consolidating the project's ownership, through an agreement with the existing partner to withdraw from the licence.
Beacon holds its interest in the Colle Santo project indirectly through LNE IOM Limited and LNEnergy Limited, as further described in the Notes to Editors below.
The Colle Santo project provides investors with significant exposure to European gas prices. RPS Energy Limited calculate an NPV10 of €37.6m (at €40/MWh) and €52.9m (at €50/MWh) attributable to Beacon's 42.3 per cent indirect economic interest in the project, assuming the Second Acquisition is completed (the 'Second Acquisition', as defined in Beacon's Admission Document of 17 February 2026). These figures highlight the value that could be unlocked as the Company progresses towards production.
Stewart MacDonald, Chief Executive Officer of Beacon Energy, commented:
"The introduction of a large industrial player with over a century of energy sector expertise in Italy to the shareholder base of LNEnergy Italy further validates the quality of the Colle Santo project and strengthens the financial backing for the project.
These transactions, when taken together, maintain Beacon's 43.2 per cent indirect economic interest in the project (assuming the Second Acquisition is completed) while providing additional capital for the project.
With the VIA approval in August 2025 and the full EIA approval in January 2026, LNEnergy Italy remains fully focused on securing the Production Concession award in the coming months. We have a clear and active pipeline of milestones ahead and look forward to keeping shareholders updated on our progress."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.