공시 • Mar 20
Zenith Energy Ltd Announces Increase in Solar Development Pipeline and Provides Update on Italian Electricity Production
Zenith Energy Ltd. announced the acquisition of an additional agrivoltaic development project, with an installed capacity of approximately 10 MWp, located in Lazio, Italy (Rieti-2). The Acquisition comprises an agrivoltaic project located in the Lazio region, with an expected installed capacity of approximately 10 MWp. The Acquisition is classified as being in the development stage. The total consideration for the Rieti 2 acquisition n is EUR 1,020,000, payable upon securing all required permits and achieving Ready-to-Build (RtB) status at the conclusion of the development process. The project is expected to produce approximately 14-15 GWh of electricity per year once in operation. Following the acquisition of Rieti-2, Zenith's solar development pipeline is now in the total amount of 173.5MWp, all secured in less than 12 months. The Company is currently awaiting an independent valuation of the portfolio, covering both RtB and the value once the projects are fully operational (the Valuation). The Valuation will be released via regulatory news as soon as it is received. The Company continues to generate electricity at the Torrente Cigno concession with an average monthly production of approximately 1,000 megawatt hours (MWh) during January and February 2026. The Italian PUN Index electricity prices averaged EUR 132 per MWh in January 2026, EUR 114 per MWh in February and is tracking at approximately EUR 142 per MWh for March 2026. On this basis, the average Italian reference electricity price across January, February and March 2026 is currently approximately EUR 129 MWh. Based on current pricing levels, the Company expects to generate gross revenues of approximately EUR 140,000 for March 2026, bringing total gross revenues from the Torrente Cigno concession to approximately EUR 370,000 for the first quarter of 2026. As announced on February 28, 2026, the Company has commenced construction-phase activities for the first assets within its Italian solar development pipeline. Three solar projects located in the Puglia region of Italy, with a combined capacity of 7 MWp, have been selected for construction. Based on typical solar irradiation levels in Southern Italy and prevailing electricity prices, these projects are expected to generate annual revenues of approximately EUR 1 million, with an estimated payback period of around 5-6 years, subject to market conditions and operational performance. As of March 20, 2026, Zenith Energy's solar portfolio includes Liguria Solar Asset (0.5 MWp, currently producing 0.2 MWp; upgrade to 0.5 MWp planned), Lazio Agrivoltaic Project 1 (10.0 MWp, Development), Lazio Agrivoltaic Project 2 (8.0 MWp, Development), Lazio Agrivoltaic Development Project (9.7 MWp, Development, planned under PAS procedure), Piedmont Agrivoltaic Development Projects (30.0 MWp, Development), Piedmont PV Development Project (10.0 MWp, Development), Piedmont Agrivoltaic Development Project (19.0 MWp, Development), Piedmont Advanced Agrivoltaic Development Project (10.0 MWp, Development), Piedmont Agrivoltaic Development Project (23.0 MWp, Development), Piedmont Agrivoltaic Development Project (5.0 MWp, Development), Puglia Solar Asset (Andria-1) (3.0 MWp, Tendering/financing (RTB)), Puglia Development Asset (Andria-2 and Barletta-1) (6.0 MWp, Development (late-stage)), Puglia Solar Development (PV + BESS) (10.0 MWp, Development), Puglia PV Development (Andria 3 and Andria 4) (4.0 MWp, Tendering/financing (RTB)), Puglia PV Development (10.0 MWp, Development), Puglia Ground-Mounted PV Projects (two sites) (5.0 MWp, Development), Puglia Photovoltaic Project (PV + BESS) (10.0 MWp, Development), with a total portfolio of 173.2 MWp.