Zenith Energy Signs MoU for €12M Solar Project Sale in Italy
Zenith Energy Ltd has signed a Memorandum of Understanding to sell solar projects in Italy's Piedmont region for €12 million. The deal involves a portfolio with an expected capacity of approximately 50 MWp, and if finalized, would yield a gross profit of about €7 million.
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Zenith Energy Ltd (LSE:ZEN; OSE:ZENA) has executed a Memorandum of Understanding to sell solar development projects for €12 million in Italy. The portfolio consists of an expected installed capacity of about 50 MWp, and the anticipated acquisition and development costs are approximately €5 million, leading to a gross profit of around €7 million upon completion.
The buyer, a renewable energy operator, is also considering acquiring 60,000 square meters of industrial buildings in Piedmont for a data center powered by the solar projects. Zenith's projects in the region comprise about 97 MWp of expected capacity. The transaction is subject to due diligence and customary closing conditions, with no guarantee of completion.
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