LONDON: Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA) announced Wednesday the acquisition of a second agrivoltaic solar energy development project in Italy’s Lazio region, strengthening its footprint in one of the country’s most strategic areas for renewable energy.
The acquisition includes 10 hectares of farmland designated for a 5-megawatt peak (MWp) agrivoltaic installation. The €650,000 transaction is contingent upon permitting approvals and the commencement of construction. Agrivoltaic systems combine agricultural activity with solar energy generation, optimizing land use and productivity.
This marks Zenith’s second agrivoltaic acquisition in Lazio this month, bringing its regional development capacity to 15 MWp. The company’s broader Italian solar portfolio now spans 58.5 MWp across five regions, including Piedmont, Liguria, and Puglia.
“Our cluster strategy in Lazio and Piedmont is designed to drive operational efficiencies and enhance long-term portfolio value,” said CEO Andrea Cattaneo. “We remain committed to building a scalable and cash-generative solar platform.”
A recent financial study commissioned by Zenith projects annual revenues of €8–9 million from a 55 MWp portfolio, with an estimated €85.5 million in gross revenue over the first decade of operation.
Zenith’s latest move underscores its ambition to become a leading player in Italy’s renewable energy sector, leveraging agrivoltaic innovation to deliver sustainable shareholder value.