- Zenith Energy Ltd. acquired five agrivoltaic projects in Italy’s Piedmont region, with a combined capacity of 30 MWp, for EUR 3.1 million.
- This acquisition marks Zenith’s largest solar deal, and in six months, it has expanded its portfolio to over 50 MWp.
Zenith Energy Ltd, a Canadian company, has acquired five development-stage agrivoltaic projects in Italy’s Piedmont region, adding a combined capacity of 30 megawatts-peak (MWp) to its renewable energy portfolio.
Through its Italian unit, Wesolar SRL, the company paid EUR 3.1 million ($3.61 million) for the projects, including land purchase. The deal remains subject to securing all required permits. Zenith will install single-axis tracker systems on agricultural land at each site and expects the projects to reach ready-to-build status within 12 to 16 months.
Chief Executive Andrea Cattaneo said the acquisitions represent the company’s largest solar investment. “In just six months, our team, working with legal and technical consultants, has built a diversified portfolio exceeding 50 MWp. These projects lay the foundation for long-term revenue generation and profitability,” he said.
In August, Zenith acquired a 10-MWp development-stage agrivoltaic project in Italy’s Lazio region, continuing its expansion in the country’s renewable energy sector.