Coro Renewables MD discusses second Philippines wind farm; provides updates on portfolio
March 14, 2024 at 08:28 am EDT
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Coro Renewables, part of Coro Energy PLC (AIM:CORO),, is expanding its renewable energy portfolio in the Philippines with the application for a second 100 megawatt wind farm project.
Managing director Michael Carrington told Proactive's Stephen Gunnion the company plans to develop three wind farms in Oslob, leveraging efficiencies such as shared technical studies and reduced mobilisation costs.
Additionally, Coro Renewables is advancing its solar project in the Philippines, involving land acquisition prior to application submission.
In Vietnam, the company has finalized a power purchase agreement (PPA) with the Mobile World Group, enabling the commencement of a pilot project involving 10 locations around Ho Chi Minh City. This pilot involves structural surveys, regulatory compliance checks, demand profiling, and rapid construction of small systems. Following a short review phase, a 50 megawatt rollout program is anticipated.
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Coro Energy plc is a United Kingdom-based energy company. The Company has a 15% direct interest in the Duyung PSC, West Natuna basin, offshore Indonesia. It has a 20.3% interest in Ventures Holdings Limited (ion Ventures), which is a Southeast Asian and United Kingdom focused developer of clean energy projects. ion Ventures pipeline of energy storage projects includes 50 megawatts (MW) of projects across the Southeast Asian region, including Thailand, the Philippines and Indonesia and 115 MW of shovel-ready projects in the United Kingdom. It operates as a renewable energy developer and operator, with expertise in wind turbine generation and solar PV technologies through Global Energy Partnership Limited. The Company is targeting low carbon energy generation assets and related technologies, such as energy storage. It has two development stage renewables projects in the Oslob onshore of Cebu in the Philippines, a 100 megawatts (MW) solar project and a 100 MW wind project.