Zenith Energy Ltd. has initiated a tender process for the construction of a portfolio of solar projects in the Puglia region of Italy. The combined installations will reach a total capacity of 7 megawatt-peak (MWp) and will be located in the Province of Barletta-Andria-Trani, an area identified by the company as having particularly favourable grid-connection conditions.
The first project to enter the construction phase will be Andria-1, a 3 MWp solar power plant classified as “Ready-to-Build”, meaning it holds all required permits for immediate construction. The Andria-2 and Barletta-1 projects, which have yet to reach this status, are currently in the development stage. Zenith expects both to obtain the necessary approvals within four months.
Construction scheduled to begin by mid-2026
All three plants are expected to begin construction by June 2026. The land designated for these projects has already undergone extensive due diligence, according to Zenith, and requires only limited civil works. This is expected to reduce construction costs, a key factor amid current margin pressures in the renewable energy development sector.
The projects will benefit from facilitated grid access due to lower saturation of the local network, based on technical data provided by the company. This factor strengthens the viability of the assets within an increasingly competitive Italian solar market.
Bank financing in final negotiation
The company is in advanced negotiations with three banks to secure construction financing. Zenith anticipates concluding an agreement covering up to 90% of construction costs by the end of the ongoing tender process.
These projects will mark a significant step for Zenith, as they are expected to generate the company’s first revenues from solar energy. Within its stated scalable strategy, the company plans to alternate between constructing selected assets and selling others based on market conditions. This approach is designed to optimise revenue generation while progressively expanding the portfolio.
Zenith’s solar portfolio in Italy forms part of a broader growth plan, combining organic revenues, low-interest financing, and potential capital increases expected in 2026.
