Business
Half Year Report
Coro Energy PLC reported its unaudited interim results for the six months ended June 30, 2025. The company added 2.2MW of commercial and industrial rooftop solar capacity, bringing the total operational capacity in Vietnam to 6.4MW, with estimated run-rate annual cash flows of approximately US$720,000. A strategic partnership was formed with Threefold Energy Group Ltd to explore battery storage solutions in Vietnam. The company completed a £2.1m equity fundraising and a share capital reorganisation. Coro also announced the sale of its 15% participating interest in the Duyung PSC to West Natuna Exploration Ltd. Post balance sheet, a placing and WRAP retail offer raised gross proceeds of £1.64 million and £32,415 respectively. The Group made a statutory profit after tax from continuing operations of $23.6m due to the write-down of the Eurobond of $25.6m. Disclaimer*
About this update from Coro Energy Plc
[{"type":"text","content":"\n\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n29 September 2025\n \nCoro Energy Plc\n(\"Coro\" or the \"Company\" and together with its subsidiaries the \"Group\")\n \nHalf Year Report for the six month period ended 30 June 2025\n \nCoro Energy PLC, the South East Asian renewable energy developer, announces its unaudited interim results for the six month period ended 30 June 2025.\n \nHighlights\n \nOperational\n \n· Added a further 2.2MW of commercial and industrial (\"C&I\") rooftop solar capacity with Mobile World Group (\"MWG\") bringing the Group's total aggregate operational capacity in Vietnam to 6.4MW with estimated run-rate annual cash flows of approximately US$720,000.\n \n· Entered a strategic partnership with Threefold Energy Group Ltd to explore advanced battery storage energy management solutions (\"BESS\") in Vietnam and other South East Asian markets.\n \n· Ongoing discussions with Mobile World Group (\"MWG\") regarding an additional 12MW of C&I rooftop solar capacity with the inclusion of BESS.\n \n· Advanced negotiations with an industrial customer for a new 10MW project across several factory locations in Vietnam.\n \nFinancial\n· Completed the full recapitalisation and strengthening of the Company's balance sheet through a £2.1m equity fundraising, a 100:1 share capital reorganisation, and the deemed redemption of 75% of the Company's existing secured listed bonds with the balance being converted into equity.\n \n· Finalised the Company's pivot to a 100% renewables strategy through the announcement of the sal...