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Highlights

  • Zenith’s Piedmont solar project reclassified from 7MWp agrivoltaic to 10MWp solar development.

  • Regulatory change expected to improve economics, accelerate timelines, and boost revenue potential.

  • Acquisition completion subject to permit approvals and construction readiness.

Zenith Energy Ltd. (LSE:ZEN; OSE: ZENA), the international energy production and development company, has provided an update on its acquisition of a solar energy project in Piedmont, Italy. The project, initially designed as a 7MWp agrivoltaic installation, has now been reclassified as a 10MWp solar energy development following recent regulatory changes.

Acquisition Overview

In May 2025, Zenith’s fully owned subsidiary, WESOLAR S.R.L., entered into an agreement to acquire approximately 13.5 hectares of agricultural land for €900,000. Completion of the acquisition remains conditional upon securing the necessary permits and approvals for construction and commissioning.

The project was originally intended as an agrivoltaic plant, integrating agricultural use with solar energy production. While agrivoltaics enhance sustainability by combining farming and clean power generation, they generally require a larger land footprint for the same level of installed capacity.

Reclassification Benefits

Following a ruling by Italy’s Council of State (sentence no. 6160/2025), the Piedmont project has been reclassified to a standard solar energy development with an upgraded installed capacity of 10MWp.

This regulatory shift is expected to significantly improve the project’s economics by:

  • Increasing potential electricity production and revenue generation,

  • Simplifying technical requirements, and

  • Shortening the project’s development and commissioning timeline.

Zenith noted that the reclassification supports its broader clean energy growth strategy in Italy and Europe.

Next Steps

Zenith will proceed with the approval process and anticipates providing further updates as milestones are achieved. The Company sees the Piedmont Acquisition as a strategic opportunity to expand its renewable energy portfolio while contributing to Italy’s energy transition targets.