April 23, 2026
("Zenith" or the "Company")
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), is pleased to announce the acquisition of a 5 MWp photovoltaic development project located in Puglia, Italy (the "Puglia Acquisition").
The Puglia Acquisition covers approximately 5 hectares of land in proximity to a motorway, within areas classified as suitable for solar PV development under the applicable regulatory framework.
The land has been acquired at a price of approximately €115,000 per hectare, reflecting the strategic value of the site in terms of location, infrastructure access, and proximity to the electricity grid.
The Company plans to develop a solar PV plant with an expected installed capacity of approximately 5 MWp following the Puglia Acquisition.
Following completion of the Puglia Acquisition, Zenith’s solar development pipeline has increased to a total of 178.5 MWp, representing a further expansion from the 173.5 MWp reported in the Company’s most recent independent valuation as of March 31, 2026, which assigned a total value of EUR 54.7 million to the portfolio.
The expansion of the pipeline is expected to support further value creation as projects advance through permitting, Ready-to-Build and construction stages. The Company remains focused on increasing the scale and quality of its portfolio while progressing assets towards monetisation and production.
Andrea Cattaneo, Chief Executive Officer, commented:
“With a combined installed capacity of 5 MWp, the project increases Zenith’s solar development pipeline to 178.5 MWp and adds further exposure to the Puglia market.
This acquisition aligns with our strategy of prioritising projects with short development timelines and near-term revenue potential.”
|
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 |
Development |
Acquisition announced on March 20, 2026. Planned under PAS procedure. |
|
Puglia Solar Project |
5 |
Development |
Acquisition 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 Photovoltaic Project (PV + BESS) |
10.0 |
Development |
Acquisition announced on March 5, 2025. |
|
Total portfolio |
178.5 |
||
Further Information:
|
Zenith Energy Ltd Andrea Cattaneo, Chief Executive Officer
|
Tel: +1 (587) 315 1279 |
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
Market Abuse Regulation (MAR) Disclosure
The information contained in this announcement is information that the Company is required to disclose under the EU Market Abuse Regulation (Regulation (EU) No 596/2014) (“MAR”), as applicable in Sweden and to companies listed on Spotlight Stock Market. The information was submitted for publication, through the agency of the contact person listed above, at the time this announcement was made public. Following publication, this information is now considered to be in the public domain.