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The company is looking forward to multiple value catalysts in the coming period. Coro Energy PLC (LON:CORO) has this week cleaned up its portfolio, reaffirming its focus and commitment to an ambitious strategy that aims to position it as an attractive energy transition investment opportunity. The AIM-quoted small-cap energy firm is to balance renewable energy, comprising solar and wind, along with natural gas in South East Asia. Presently, work is underway to progress flagship wind and solar projects, with each project pencilled in for around 100 megawatts of generation capacity. The target is to have these key projects in a ‘build-ready’ state by mid-2022, allowing the first revenues to follow around twelve months later. ....
Coro Energy focusses on renewable energy strategy advances Coro Energy PLC (LON:CORO) CEO Mark Hood talks to Proactive Investors London about the potential to add value for shareholders over the next year by focussing on renewables. This comes as the company released its financial results statement for 2020. Coro, once known for its oil and gas interests is now being positioned towards renewable energy and is supporting the transition from fossil fuels to two clean energy projects in south east Asia, which Mark updates us on. Although Coro Energy focusses on low carbon energy investments, it s also supported by a high quality gas asset in Indonesia which Mark brings investors up to date on. Advancing interests in wind and solar projects in the Philippines, following recent acquisitions, and retaining gas assets in the region – assets in Italy are now deemed non-core and are being slowly shed. ....
19 April 2021 | 09:29am StockMarketWire.com - South East Asian energy company Coro Energy reported narrower losses as cost cuts offset the impact of a fall in revenue following a fall in gas prices. For the year ended 31 December 2020, pre-tax losses narrowed to $9.2 million from $16.6 million, while revenue fell 70% to $803,000 from $2.7 million. The production suspension led to a significant fall in Coro s production entitlement for the year, which was 5.4 MMscm compared to 12.7 MMscm in 2019, the company said . Gas was sold at an average price of €0.14 per scm, down from €0.19/scm. Having raised new capital early in 2021, and with a strengthened executive team, we are excited about the potential to add value for shareholders in the next 12 months and beyond, it added. ....