Zenith Energy Ltd. (”Zenith” or the ”Company”) announced on Thursday, April 23, 2026, that the Company has acquired a 5 MWp photovoltaic development project located in Puglia, Italy. The project 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, while being situated approximately 300 meters from an existing Zenith project for which grid connection has already been secured. The total consideration amounts to EUR 575t, payable upon securing all required permits and achieving Ready-to-Build (”RtB”) status. Following the acquisition, Zenith’s solar development pipeline has increased to 178.5 MWp, representing approximately 89% of the Company’s stated 200 MWp target by the end of 2026.
Analyst Group views the Puglia acquisition as a further consolidation of Zenith's solar platform, executed in line with the Company's established acquisition framework and regional clustering strategy. With 178.5 MWp now secured and only 21.5 MWp remaining to reach the 200 MWp target, the Company is approaching a strategically important threshold that is expected to be followed by the communication of a revised, more ambitious growth objective. The EUR 54.7m independent portfolio valuation provides a concrete benchmark for the embedded value of the broader pipeline as it has continued to scale. Zenith thus demonstrates consistent execution across both the acquisition and value-realization phases of its Italian solar strategy.
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This is a press release from Analyst Group regarding the publication of a comment on Zenith Energy. Readers may assume that Analyst Group has received compensation for making the comment. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.