Coro offers exciting energy transition opportunity

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  • Coro Energy expands renewable energy business with Vietnam rooftop solar portfolio
  • Coro Energy tidying up and positioned as energy transition opportunity
  • SP Angel sees possible cash generation boost for Coro Energy
  • Coro Energy focusses on renewable energy strategy advances
Coro offers exciting energy transition opportunity

Quick facts: Coro Energy PLC

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Coro Energy is a South East Asian focused energy company with a growth strategy centred on low carbon energy investments, supported by a high quality gas asset.

Energy demand in South East Asia is forecast to increase significantly to 2040 driven by increasing population and growing wealth. Coro is investing in energy assets to meet this growing demand, while supporting the regional transition to a low carbon economy.

Our regional growth strategy is underpinned by a 15% interest in the Duyung PSC, containing the 495 Bcf (2C gross) Mako gas field, located offshore Indonesia.

12 Jul 2021

() has inked a deal to acquire a portfolio of planned rooftop solar projects in Vietnam.

The portfolio, comprising 150 megawatts of generating capacity, is being bought from Vinh Phuc Energy (VPE) and the deal begins with a low-cost entry, starting with a 5 MW pilot project.

Coro will hold an 85% interest in a newly formed joint venture company called Coro Renewables Vietnam, with the company funding the venture initially with US$500,000.

“This transaction enables Coro to secure access to a significant portfolio in Vietnam which should see cash generative projects with short development cycles, significant news flow and high returns,” said chief executive Mark Hood. “I am delighted that we are able to achieve this with minimal upfront development capital.”

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07 Jul 2021

() said its investee company Ion Ventures, in which it has a 20.3% stake, is accelerating its energy storage plans with a landmark UK transaction.

Ion is teaming up with the GLIL Infrastructure Fund to create Flexion Energy Holdings, which will provide grid-scale storage.

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27 May 2021

() has struck a deal to divest its legacy Italian gas assets for EUR300,000 in cash.

The deal marks a material milestone in the company’s energy transition strategy which is focused on South East Asia.

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28 May 2021

() has this week cleaned up its portfolio, reaffirming its focus and commitment to an ambitious strategy that aims to position it as an attractive energy transition investment opportunity.

The AIM-quoted small-cap energy firm is to balance renewable energy, comprising solar and wind, along with natural gas in South East Asia.

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12 Jul 2021

‘s () interesting acquisition of solar projects in Vietnam could provide a route to boost to cash flow, according to stockbroker SP Angel.

On Monday, Coro announced a deal to acquire a portfolio of planned rooftop solar projects comprising a total of 150 megawatts of generating capacity – starting with a 5 MW pilot project.

“An interesting acquisition in our view, effectively diversifying the company’s SE Asian portfolio,” said SP Angel analyst Sam Wahab said in a note. “Vietnam remains one of the highest growth markets at the forefront of the regional transition to clean energy.

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04 May 2021

() CEO Mark Hood talks to Proactive Investors London about the potential to add value for shareholders over the next year by focussing on renewables. This comes as the company released its financial results statement for 2020.

Coro, once known for its oil and gas interests is now being positioned towards renewable energy and is supporting the transition from fossil fuels to two clean energy projects in south east Asia, which Mark updates us on.

Although Coro Energy focusses on low carbon energy investments, it’s also supported by a high quality gas asset in Indonesia which Mark brings investors up to date on. Advancing interests in wind and solar projects in the Philippines, following recent acquisitions, and retaining gas assets in the region – assets in Italy are now deemed non-core and are being slowly shed.

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