Key Facts

  • In March 2021, Coro completed the acquisition of Global Energy Partnership Limited - a South East Asia focused renewable energy developer and operator, with expertise in wind turbine generation and solar PV technologies.
  • GEPL’s business model is to originate, develop, build and operate assets of utility scale with grid connection.
  • Coro now owns and operates GEPL’s pipeline, which gives us access to multiple projects providing a strong renewable energy platform across the region, as well as technical and commercial expertise within the renewable energy sector.
  • The pipeline of early stage projects includes:
    • 2.3GW across 10 Onshore Wind and 11 Solar PV projects in The Philippines
    • 150MW of Solar PV projects in Indonesia
    • 1.2GW across 2 Onshore Wind and 6 Solar PV projects in Vietnam
  • GEPL has studied the legislative and regulatory renewables framework in the Philippines in great depth and now, having completed a fund raise alongside the GEPL acquisition, Coro has a targeted roadmap to take these priority projects to ready to build.
  • Other countries within ASEAN continue to be monitored and our network of in country connections provide guidance upon optimal timings for plan execution.
  • The first two Philippines projects consist of a 100 MW ground mounted Solar PV and 100 MW Onshore Wind project - located in the Visayas region of the Philippines and are of utility scale in size with grid connections identified.
  • These projects have the potential to generate earnings for Coro in numerous ways:
    • Develop, build and operate projects, generating earnings through long term Power Purchase Agreements and creation of verified and internationally recognised carbon credits that can be traded on carbon markets; or
    • Sale of Projects at Ready-to-Build stage; or
    • Sale of operational assets.


  • 25 year PPA with Phong Phu – a listed Vietnamese high volume manufacturer of textiles - signed in April 2022
  • 3-megawatt pilot project, consisting of over 4,500 solar panels and other ancillary components which has been installed across four factory roofs in Vietnam and covers a total area of 16,120 square metres
  • Project delivered on time and on budget
  • Currently delivering electrical power which is being consumed on site by Phong Phu Corporation,
  • Contributes net cash flows to the Group of approximately $0.3m per annum
  • Due diligence and technical assessments underway with regards to potential clients and locations for additional rooftop solar projects



Annual electricity demand forecast to increase by 65GW by 2040, on the back of a young and growing population and strengthening per capita GDP

Strong long-term PPA pricing to support renewable energy, low off taker risk and no subsidies required

Legislation supportive of renewable energy - transparent, objective and clearly defined desire to move away from fossil fuels

2010-2019 average annual growth 6.4%, BBB+ rating (S&P)

Large deficit of renewable power production vs government targets, in part created by barriers to entry including limitations on foreign ownership in independent power producers

Deployment of renewable energy seen as strategically important to boost energy independence/security and reduce reliance on imported fossil fuels

Government has invested heavily in grid infrastructure and continues to do so, supporting deployment of new generation assets

Coro's Current work programme: 

Coro is focused on securing land access alongside regulatory permits and approvals, securing offtake arrangements and data gathering at the proposed sites.