|
Zenith Energy Ltd said on Wednesday it began construction activities for the first assets of its Italian solar pipeline through its wholly-owned subsidiary Wesolar Srl. The projects, ground-mounted photovoltaic panels located in Apulia, will total 7 megawatts of peak solar generation and are expected to cost €3.9 million. They are expected to generate gross proceeds of around €14.8 million in the first 10 years, and run for 30. The announcement of the start of the construction phase comes after Zenith announced it was in discussions with banking firms to finance the investment late last November. Zenith has also acquired two new ground-projects in Apulia, currently at development stage, for an installed peak capacity of 5 megawatts. It is considering paying €779,000 for the combined six hectares of land required conditional to achieving all regulatory permits. The new acquisitions bring Zenith’s total portfolio to a peak solar production capacity of 126 megawatts following slight upward adjustment in capacity at three other projects. Zenith Chief Executive Officer Andrea Cattaneo said: ‘With three projects totaling 7 MWp now progressing through the tender and financing process, and with additional development land secured in Puglia to keep the pipeline flowing, we believe we are building a portfolio that can deliver scalable and recurring electricity production revenues over time.’ Zenith Energy shares closed up 10% at 3.80 pence on Wednesday in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
