REG - Zenith Energy Ltd - Construction and Financing of Solar Projects

About this update from Zenith Energy Ltd.

RNS Number : 3595I Zenith Energy Ltd 20 November 2025 November 20, 2025ZENITH ENERGY LTD.("Zenith" or the "Company")Update re Construction and Financing of Ready-to-Build Solar Energy ProjectsZenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; XSAT: ZENA SDR), the listed international energy production and development company, is pleased to announce that it has initiated a tender exercise for the construction of a portfolio of solar energy assets in the Puglia region of Italy, with a total installed capacity of 7 MWp.OverviewThe first project to be constructed is a 3 MWp PV solar energy project, categorised as Ready-to-Build and with all the necessary permits for the immediate commencement of construction, announced by way of regulatory news on 30 July 2025 ("Andria-1").The second and third projects to be constructed ("Andria-2" and "Barletta-1") are also located in close proximity to Andria-1. Andria-2 and Barletta-1 are currently in the Development phase and are expected to reach Ready-to-Build status within four months. These assets form part of the acquisition announced on 17 September 2025.Construction across all three plants-representing a combined installed capacity of approximately 7 MWp-is expected to commence by June 2026.The land designated for these projects has already undergone comprehensive due diligence by the Company and requires only minimal civil works, resulting in reduced construction costs.Furthermore, all projects benefit from highly favourable grid-connection conditions and are situated in an area that remains less saturated than other parts of Puglia, specifically within the Province of Barletta-Andria-Trani. These factors provide a clear strategic advantage for the development pipeline that Zenith is advancing in Italy.The Company will provide updates as appropriate once the tender exercise has concluded and once Ready-to-Build status and all other necessary approvals for construction are obtained for Andria-2 and Barletta-1.FundingThe Company is in advanced negotiations with three different banks to secure construction financing for Andria-1, Andria-2, and Barletta-1.Zenith expects to finalise an agreement, for an amount equal to up to 90% of the construction costs, by the conclusion of the tender exercise.Andrea Cattaneo, Chief Executive Officer of Zenith Energy, commented:"Throughout Zenith's history, our stra...

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