REG - Coro Energy PLC - An Viet Phat Group Equipment Lease Agreement

Coro EnergyAnnouncement

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RNS Number : 3514Z  Coro Energy PLC  07 April 2026

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."

 

- ENDS -

 

For further information please contact:

 

 Coro Energy plc                                          Via Vigo Consulting Ltd

 Cavendish Capital Markets Limited (Nominated Adviser)    Tel: +44 (0)20 7220 0500

 Adrian Hadden

 Ben Jeynes

 Tennyson Securities  (Nominated Broker)                    Tel: +44 (0)2 (tel:(0)20%C2%A03764%202341) 4530 9239

 Peter Krens

 Vigo Consulting (IR/PR Advisor)                          Tel: +44 (0)20 7390 0230

 Patrick d'Ancona

 

 

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.

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