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15 October 2025
Coro Energy Plc
("Coro" or the "Company")
New Vietnam EPC Loan
Coro Energy Plc, the South East Asian renewable energy developer, announces a new EPC loan for the next 2MW of C&I rooftop solar construction with Mobile World Group ("MWG").
As previously announced, the Company has 3.4MW of operating installed rooftop solar capacity with MWG in addition to the existing 3.0MW industrial project with Phong Phu Corporation and has been in discussions in Vietnam with multiple parties with a view to introduce debt funding into its portfolio. The Company is now delighted to announce a new loan from its Engineering, Procurement and Construction ("EPC") provider in Vietnam which funds 70% of the next 2MW (circa US$750,000) of future rooftop solar installations with MWG. The loan will be repaid in monthly instalments over a five-year period with a coupon of 10% in the first year and an externally benchmarked coupon for subsequent years.
Tom Richardson, Chairman, commented:
"Having strengthened Coro's financial foundations over the last year, we continue to seek ways to ensure the business has access to the capital it needs as it continues to expand. This is an important funding solution for the Company which largely dovetails the payment of the construction cost with the cash flows generated by the asset. We continue to work with both international and local banks to introduce further debt finance as we increasingly transition towards self-funding solutions for our C&I rooftop business in Vietnam. We are grateful to our EPC partner in-country for their continued support."
For further information please contact:
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Coro Energy plc
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Via Vigo Consulting Ltd
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Cavendish Capital Markets Limited (Nominated Adviser) Adrian Hadden Ben Jeynes
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Tel: 44 (0)20 7220 0500 |
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Tennyson Securities (Nominated Broker) Peter Krens |
Tel: 44 (0)2 4530 9239
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Vigo Consulting (IR/PR Advisor) Patrick d'Ancona
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Tel: 44 (0)20 7390 0230 |
The 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.
