Zenith Energy (LSE:ZEN) told investors it has acquired a new ground-mounted photovoltaic development project in the Province of Foggia in Italy's Puglia region, taking its total Italian solar development pipeline to approximately 238 MWp.
The London-listed energy production and development company, which also holds oil and gas production assets in Italy, now sits close to its target of 240 MWp by the end of 2026, a goal it raised from an original 200 MWp target over the course of the year as it has steadily added sites across Puglia, Piedmont and Lombardy.
The new project has an anticipated installed capacity of approximately 5 MWp and is expected to qualify for Italy's Simplified Authorisation Procedure (PAS), which Zenith says can offer a significantly more efficient route than ordinary permitting. The company estimates the project could reach Ready-to-Build status within 8 to 10 months, covering grid connection, final design and the PAS process, and expects a comparatively straightforward grid connection with limited associated infrastructure costs.
The land purchase covers approximately 8 hectares at €70,000 per hectare, for total consideration of approximately €560,000, payable only once the project reaches Ready-to-Build status, limiting Zenith's financial exposure until the site is fully authorised. That deferred-payment structure mirrors the capital-efficient model Zenith has applied across its other recent Italian land acquisitions, including its Puglia and Pavia sites.
Read more about Zenith Energy
- 19/10/26Zenith Energy expands Lombardy solar cluster with fourth Pavia project
- 28/09/26Zenith Energy buys two more solar sites
- 15/07/26Zenith Energy agrees MoU to sell Piedmont solar portfolio
"With our pipeline now at approximately 238 MWp, we are within reach of our 240 MWp targets for the end of 2026," said chief executive Andrea Cattaneo, adding that negotiations on the sale of selected development assets are continuing.
Zenith's first Puglia plants, a cluster of three sites totalling 7 MWp, are already under construction, with commissioning and grid connection targeted before the end of the year.