Zenith Energy Ltd (LSE:ZEN, TSX-V:ZEE) announced it had expanded its Italian renewables pipeline with the acquisition of a 10MWp agrivoltaic development project in Piedmont.
This takes its total solar portfolio to 120.5MWp and adds another asset in one of Italy’s more industrialised power markets.
The company said the project, acquired through subsidiary WESOLAR SRL, is located in the Province of Alessandria and is expected to reach Ready-to-Build status within 12 to 15 months.
The price paid for the land totals €768,215 and is conditional on securing the permits needed to get the project to that stage.
The latest deal further deepens Zenith’s presence in Piedmont, where it already has about 60MWp under development, while also extending its wider regional pipeline across Puglia and Lazio.
Chief executive Andrea Cattaneo said the acquisition strengthens Zenith’s position in a “high-demand industrial area”.
And it supports its strategy of advancing projects through permitting and grid-connection milestones before either monetising selected assets or building them out for recurring electricity revenue.
The firm is also in talks for two further acquisitions, and it believes it can reach a 200MWp portfolio by the end of 2026.