Zenith Energy (LSE:ZEN), the international energy production and development company, has acquired Stradella 1, a ground-mounted photovoltaic development project in the Province of Pavia, Lombardy.
The project has an indicative installed capacity of approximately 9 MWp and marks Zenith's first solar development in the region.
Lombardy, home to Milan, is Italy's most energy-intensive region and accounts for the largest share of national electricity consumption.
The site spans roughly 9.5 hectares, sits close to an industrial area and motorway, and lies within 2 kilometres of the Broni-Stradella electricity infrastructure, including Terna and e-distribuzione substations.
The deal values the land at €8.50 per square metre, or €85,000 per hectare, for total consideration of approximately €807,500.
The deposit falls due only once the grid operator formally accepts the STMG, the technical proposal confirming connection point and costs, limiting Zenith's exposure until terms are set.
With capacity below 10 MW, the project is expected to qualify for Italy's simplified PAS authorisation procedure.
The acquisition lifts Zenith's total Italian solar development pipeline to approximately 212 MWp, moving closer to its 240 MWp target by the end of 2026.
It follows a Memorandum of Understanding announced on 15 July for the proposed €12 million sale of the company's roughly 50 MWp South Piedmont Portfolio, part of a broader push to monetise assets as they advance through development.
"Just as importantly, we will commit capital only once the grid connection has been confirmed through the STMG, which is the discipline we apply to every acquisition," said chief executive Andrea Cattaneo.
Zenith expects a significant proportion of asset sale value to materialise by the third quarter or the first quarter of 2027.
News Intelligence what this means for the company
Zenith Energy acquired a 9 MWp solar development site in Lombardy for €807,500, its first in the region, lifting its Italian solar pipeline to 212 MWp toward a 240 MWp target by end-2026. The deal is modest in scale—the site cost €85,000 per hectare—and Zenith has structured it to defer capital commitment until grid connection is formally confirmed, a discipline the CEO emphasised. This acquisition sits within a broader monetisation strategy: the company has a memorandum of understanding to sell an approximately 50 MWp Piedmont solar portfolio for €12 million, expected to close by Q3 2026 or Q1 2027.
The acquisition advances Zenith's 2026 solar target but remains a small incremental step—9 MWp is 4% of the 212 MWp pipeline and 3.75% of the 240 MWp goal. The company's ability to hit its 2026 target now depends on completing larger portfolio sales and advancing construction on existing projects, not on small greenfield acquisitions.
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