August 10, 2025 ZENITH ENERGY LTD.
("Zenith" or the "Company")
Acquisition of 30 MWp Agrivoltaic Development Projects
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), thelistedinternational energy production and development company, is pleased toannouncethe acquisition of 5 development-stage agrivoltaic solar energy productionprojects located in the region of Piedmont, Italy (the "Acquisitions"), byitswholly-owned Italian solar energy portfolio subsidiary, WESOLAR S.R.L.("WESOLAR").
Acquisitions Highlights
o The Acquisitions comprises of 5 agrivoltaic solar energy developmentprojectslocated in the Piedmont region of Italy, with a combined installed capacity ofapproximately 30 MWp.
o Agrivoltaic technology integrates agricultural activities with solarenergyproduction, optimising land use and supporting sustainable agriculturalpractices. It is planned that each project will utilize single-axis trackersystems on agricultural land to maximize solar energy generation efficiency.
o Italy stands out as one of the leading countries worldwide inagrivoltaictechnology and implementation. o The Company expects the Acquisitions will all achieve 'Ready-to-Build'statuswithin the next 12-16 months. o The consideration for the Acquisitions is EUR 3,100,000, which includesthepurchase of the land hosting the Acquisitions, and will be payable conditionalto the achievement of all the necessary permits to achieve 'Ready-to-Build'status.
Zenith's Solar Energy Portfolio now includes:
o Liguria Solar Asset: 0.5 MWp (Operational, currently producing at 0.2MWp).o Puglia Solar Asset: 3 MWp (Ready-to-Build).o Agrivoltaic Development Project in Piedmont: 7 MWp (Development Stage).o Agrivoltaic Development Project in Lazio: 10 MWp (Development Stage).o Agrivoltaic Development Projects in Piedmont: 30 MWp (DevelopmentStage).
Following additional due diligence, the Company has elected not to exercisetheexclusive option for the Ready-to-Build projects located in Lazio, Italy, foracombined total of 2 MWp, announced on May 29, 2025.
Andrea Cattaneo, Chief Executive Officer, commented:
"We are delighted to announce the Acquisitions, representing our largest solarenergy acquisition to date. In the space of only six months, our team, working closely with legal andtechnical consultants, has built a diversified portfolio exceeding 50 MWp,laying the foundations for the Company's long-term future of revenuegenerationand profitability.
Zenith now holds a significantly expanded and diversified portfolio of solarassets spanning operational, ready-to-build, and development stage.
It is our intention to continue expanding the portfolio in a sustained manner,with the opportunity of strategically partnering, in respect of specificlargerdevelopment assets, with major utility companies to balance our financingrequirements.
Alongside the technical and legal due diligence, our efforts have also beenconcentrated on financing the development of the portfolio we have created. Tothis end, we are in advanced discussions with specialised lenders in therenewables industry who will provide the necessary funding for theconstructionof the infrastructure."
Further Information:Zenith Energy Ltd
Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 1279E: info@zenithenergy.ca
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 and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA). 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://www.linkedin.com/uas/login?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F10818980%2Fadmin%2F Market Abuse Regulation (MAR) Disclosure
The information included in this announcement is defined as inside informationpursuant to MAR article 7 and is publicly disclosed in accordance with MARarticle 17 and section 5 -12 of the Norwegian Securities Trading Act. Theannouncement is made by the contact person.
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