Zenith buys second solar energy development project in Lazio, Italy

Wed, 27th Aug 2025 21:08

(Alliance News) - Zenith Energy Ltd on Wednesday said it has acquired an additional agrivoltaic solar energy development project in the Lazio region of Italy.

The Calgary, Canada-based oil company with interests in Italy, Tunisia and the US bought the additional 10 hectares of farmland for the development of a 5 megawatt peak solar energy project, for a total amount of EUR650,000.

The consideration will be payable when the permitting process has concluded and construction has started, Zenith noted.

"The addition of a second agrivoltaic project in Lazio increases our regional development capacity to 15 MWp and marks a further step in strengthening Zenith's Italian solar portfolio," said Chief Executive Officer Andrea Cattaneo.

"Together with our development pipeline in Piedmont, the Lazio acquisition establishes two development clusters in the two 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."

Shares in Zenith Energy closed flat at 3.65 pence in London on Wednesday. The stock has more than more than tripled from 1.20p over the past year.

Cattaneo continued: "We remain focused on a disciplined, step-by-step strategy to build a diversified, scalable and cash-generative solar portfolio. Based the recent study commissioned by the company, a portfolio of 55 MWp is projected to generate approximately EUR8-9 million per annum at steady state once fully operational.

"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."

By Emily Parsons, Alliance News reporter

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