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On 07 April 2026, Coro Energy Plc announced it signed binding 25-year equipment lease and operations and maintenance contracts with An Viet Phat Group (AVP). These agreements cover the installation and leasing of rooftop solar systems across an initial two factories in Vietnam, with a total estimated capacity of 1.6MW. An Engineering, Procurement and Construction contract has been signed with Peb Steel Buildings Company Limited, with construction expected to commence during April.
| Date | 7 Apr 2026 |
| Time | 07:00:11 |
| Category | Miscellaneous |
| ID | 3514Z |
7 April 2026
Coro Energy Plc
("Coro" or the "Company")
An Viet Phat Group Equipment Lease Agreement
Coro Energy Plc, the South East Asian renewable energy developer, announces that it has signed binding 25-year equipment lease agreements and operations and maintenance contracts with a new customer, An Viet Phat Group ("AVP"), for the installation and leasing of rooftop solar systems across an initial two factories in Vietnam with a total estimated capacity of 1.6MW.
AVP is a privately owned Vietnamese group focused on biomass energy and wood-based products and is one of the world's leading exporters of wood pellets.
An Engineering, Procurement and Construction ("EPC") contract has been signed with Peb Steel Buildings Company Limited with construction expected to commence during April.
The Company is in advanced discussions with AVP for the installation and leasing of rooftop solar systems across an additional five factories in Vietnam with a total estimated capacity of 8.4MW.
The AVP projects are structured under a rooftop solar leasing model which is compliant with recent changes to the electricity law in Vietnam. The construction of the initial 1.6MW sites will be financed from existing available cash resources. The Company expects that projects of this nature will form part of the portfolio to be financed under the previously announced proposed senior secured debt facility with a leading global sustainable infrastructure investor, once finalised.
Tom Richardson, Chairman of Coro, commented:
"We continue to make progress in delivering our strategic goal of material growth in the Vietnamese rooftop solar market. We are very pleased to have secured another high-quality customer with AVP and look forward to delivering rooftop solar energy systems for their factories. I am grateful for the constructive engagement between AVP and our team over the past few months.
The potential opportunity to scale the AVP projects from an initial 1.6MW to a broader 10.0MW rollout highlights the repeatable nature of our business model, the strength of our customer relationships and the depth of our pipeline.
Together with the recently announced progress on the proposed senior secured debt facility we believe Coro is well positioned to accelerate the deployment of its contracted projects and continue scaling its Vietnam platform."
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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.