Italian Investor Acquires Minority Stake in Project Vehicle
Beacon Energy (LSE:BCE) has announced that an Italian energy distribution company has invested €1.4 million in LNEnergy Italy, acquiring an approximately 10% stake in the project company.
Following the transaction, LNEnergy Limited will continue to own the remaining 90% of LNEnergy Italy.
At the same time, LNEnergy Italy has increased its working interest in the Colle Santo gas project from 90% to 100% after one of its existing partners agreed to exit the licence.
Beacon Retains Indirect Economic Interest
Beacon’s exposure to the Colle Santo development is held indirectly through LNE IOM Limited and LNEnergy Limited.
The company said it continues to hold a 43.2% indirect economic interest in the project, subject to the completion of the second acquisition outlined in its admission document dated 17 February 2026.
According to an independent valuation by RPS Energy Limited, Beacon’s indirect interest carries a net present value of €37.6 million using a gas price assumption of €40 per megawatt-hour, rising to €52.9 million at €50 per megawatt-hour, assuming the second acquisition is completed.
Project Advances Toward Production Approval
The Colle Santo gas project received Environmental Impact Assessment (VIA) approval in August 2025, followed by full Environmental Impact Assessment approval in January 2026.
LNEnergy Italy is now focused on obtaining the project’s production concession as it progresses toward development.
Management Welcomes Strategic Backing
Chief Executive Officer Stewart MacDonald said the latest investment demonstrates growing confidence in the project.
“The investment further validates the quality of the Colle Santo project and strengthens the financial backing for the project.”
The additional funding is expected to support continued development of Colle Santo while leaving Beacon’s indirect economic exposure to the project unchanged.
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