Coro Energy (AIM:CORO), in its financial results statement, said it was now in a materially stronger position than it was twelve months ago.
The South East Asian renewable energy developer noted that, since the year ended, it had been bolstered by a financing comprising an initial committed tranche of up to US$10 million, and an uncommitted accordion tranche of up to US$10 million, though the arrangement remains subject to further approvals and due diligence.
The company, meanwhile, reported revenue from operations rose to US$644,000 for the year ended 31 December 2025, reflecting a full-year contribution from its expanded Vietnam rooftop solar portfolio.
During 2025, Coro added 2.2MW of commercial and industrial rooftop solar with Mobile World Group, lifting operational capacity in Vietnam to 6.4MW and generating estimated run-rate annual cash flows of approximately US$720,000, and repaid a US$750,000 convertible loan note, leaving the company free of legacy corporate debt.
The group finalised its strategic pivot to 100% renewables by selling its 15% participating interest in the Duyung PSC, entered a strategic partnership with Threefold Energy to explore battery storage and energy management, and signed binding documentation with MWG for a co-located BESS pilot.
Post period, the company signed 25‑year equipment leases and O&M contracts with An Viet Phat for an initial 1.6MW across two factories and is in advanced talks for a further 8.4MW (a potential 10.0MW rollout).
The company raised gross proceeds of approximately £1.7 million in 2025 and said the proposed debt facility, if completed, could support roughly 40MW at expected gearing, with financial close expected in the first half of 2026.
