Acquisition of Agrivoltaic Development Project in Lazio, Italy

06 Aug 2025 03:52 CEST

August 6, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of Agrivoltaic Development Project in Lazio, Italy

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed
international energy production and development company, is pleased to announce
the acquisition of a development-stage Agrivoltaic solar energy production
project in the region of Lazio, Italy (the “Acquisition”), by its wholly-owned
Italian subsidiary created to manage its solar energy portfolio, WESOLAR S.R.L.
("WESOLAR").

Acquisition Highlights

• The Acquisition will have an installed capacity of approximately 10 MWp.
• Agrivoltaic technology integrates agricultural activities with solar energy
production, optimising land use and supporting sustainable agricultural
practices.
• The Company expects the Acquisition will achieve Ready-to-Build status within
the next 12 months.
• The consideration for the Acquisition is EUR 1,300,000, which includes the
purchase of the land hosting the Acquisition, and will be payable conditional to
the achievement of all the necessary permits for it to become ‘Ready-to-Build’.

The Company’s Solar Energy Portfolio now includes:

• Liguria Solar Asset: 0.5 MWp (Operational, currently producing at 0.2 MWp).
• Puglia Solar Asset: 3 MWp (Ready-to-Build).
• Agrivoltaic Project in Piedmont: 7 MWp (Development Stage).
• Agrivoltaic Development Project in Lazio: 10 MWp (Development Stage).

Andrea Cattaneo, Chief Executive Officer, commented:

“We are pleased to announce the Acquisition—our largest to date. This milestone
holds significant symbolic value because it marks the early achievement of our
strategic goal of building a 20 MWp production capacity portfolio by the end of
2025.

Following the Acquisition, Zenith now holds a diversified portfolio of solar
assets spanning operational, ready-to-build, and development stages. Each
project we pursue is subject to rigorous technical and legal due diligence, both
before and after acquisition, ensuring there is exclusive focus solely on
high-quality opportunities with a clear path to full permitting.

Looking ahead, we intend to leverage favourable financing options tailored to
Italy’s solar sector to accelerate our expansion and minimise equity dilution.
Our strategic vision is clear: to acquire and develop promising solar projects
across various stages, capitalising on advantageous market conditions to build a
sustainable, revenue-generating portfolio with rapid investment recovery.”






Further Information:
Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer
Tel: +1 (587) 315 1279
E: 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://bit.ly/3A5PRJb

Market Abuse Regulation (MAR) Disclosure

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17 and section 5 -12 of the Norwegian Securities Trading Act. The
announcement is made by the contact person.

More information:
Access the news on Oslo Bors NewsWeb site

652170_06.08.2025 Norway .pdf