Zenith Energy (LSE:ZEN) agreed to acquire a 5 MWp ground‑mounted photovoltaic development in the Metropolitan City of Rome for a total land consideration of EUR 440,000.
Zenith, the international energy production and development company, said the site sits on the A1 motorway corridor north of Rome adjacent to an industrial area and will be bought only once all required permits are secured and the project achieves Ready‑to‑Build status under its capital‑efficient acquisition model.
The 5 MWp addition increases Zenith's solar development pipeline to 188.5 MWp, representing 94% of its 200 MWp target for 2026, and follows an independent valuation at 31 March that valued 173.5 MWp of the pipeline at EUR 54.7 million, which the company expects to increase materially at the next update.
Construction of Zenith's first operational cluster of three Puglia plants totalling 7 MWp is scheduled to start in July 2026 with commissioning targeted for Q3 2026, which the company says will deliver its first operating revenues.
"Rome is one of the most strategically significant locations we have identified since launching our Italian solar programme, and this acquisition increases our development pipeline to 188.5 MWp, bringing us closer to our stated target of 200 MWp for 2026," said Andrea Cattaneo, Chief Executive Officer.
The company adds it is evaluating a potential disposal of one development project to a leading national renewable energy operator to selectively monetise assets and redeploy capital.
The immediate milestone is the commissioning of the Puglia cluster in Q3 2026.
