Acquisition of Solar Energy Project
Zenith acquires solar energy development project in Puglia, Italy with 6 MWp capacity for EUR 750,000.
- Puglia Acquisition capacity approximately 6 MWp
- Acquisition consideration EUR 750,000
- Total portfolio capacity 64.5 MWp
- Regional development capacity in Puglia 9 MWp
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Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international energy production and development company, is pleased to announce the signing of an agreement to acquire a solar energy development project located in the Puglia region of Italy (the "Puglia Acquisition") by its wholly-owned Italian subsidiary created to manage its solar energy portfolio, WESOLAR S.R.L. ("WESOLAR").
Key Highlights
- The Puglia Acquisition will have a total installed capacity of approximately 6 MWp.
- The Puglia Acquisition is categorised as being at 'Development' stage.
- Puglia is one of Italy's most favourable regions for solar energy, having higher solar irradiation hours compared to other regions. This results in a superior economic yield for solar energy plants.
- The Puglia Acquisition enables Zenith to consolidate its presence in Puglia, while at the same time complementing its established pipeline in Piedmont and Lazio. Together, these acquisitions provide the Company with significant development portfolios in Puglia, Lazio and Piedmont, three of Italy's most attractive and strategically important regions for solar energy.
- The consideration for the Puglia Acquisition is EUR 750,000, which includes the purchase of the land hosting the Puglia Acquisition, and will be conditional to the achievement of all the necessary permits for it to achieve 'Ready-to-Build' categorisation.
Zenith Energy Solar Portfolio (as of September 16, 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. |
| Puglia Solar Asset | 3.0 | Ready-to-Build | All permits obtained, grid connection ready, announced on July 30, 2025. |
| Piedmont Photovoltaic Project | 10.0 | Development | Originally an agrivoltaics project, but then reclassified to photovoltaic as announced on August 22, 2025. |
| Lazio Agrivoltaic Projects | 15.0 | Development | First Lazio acquisition (10 MWp) announced Aug 6, 2025. Second acquisition (5 MWp) announced on August 27, 2025. |
| Piedmont Agrivoltaic Development Projects | 30.0 | Development | Multi-site acquisition announced on August 11, 2025. |
| Puglia Solar Development Asset | 6.0 | Development | Acquisition signed on September 16, 2025. |
| Total Portfolio | 64.5 |
Andrea Cattaneo, Chief Executive Officer of Zenith Energy, commented:
"The addition of a second solar energy project in Puglia increases our regional development capacity to 9 MWp and marks a further step in strengthening Zenith's Italian solar portfolio.
Together with our development pipeline in Piedmont and Lazio, the Puglia Acquisition establishes three development clusters in the most attractive regions of Italy for solar energy production. This cluster approach is expected to drive operating efficiencies, improve development and construction economics, and enhance long-term portfolio value.
We remain focused on a disciplined, step-by-step strategy to build a diversified, scalable and cash-generative solar portfolio.
We will continue to grow assets under management as opportunities arise to build an operation with substantial realisable value that delivers sustainable value for shareholders."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.