Coro Energy PLC (AIM:CORO) has announced a 130-metre tall meteorological mast has successfully been installed on time and within budget for wind testing in the Philippines.
Data is already being gathered from the mast, which will provide further detail to local wind resource estimates, the south east Asian energy firm said on Wednesday.
“The wind data gathering campaign is now underway and will operate for up to twelve months,” Coro said.
“[This will] deliver bankable data to the company's utility scale projects in the province of Oslob.”
Coro plans to develop a 100 megawatt onshore wind farm in the province, alongside a 100 megawatt solar farm, and is entitled to 88% of future dividends from both.
Specialist firm Coastal Renewables Ltd installed and will maintain the mast at a total cost of US$263,000, Coro said in August.
“The wind resources estimates that result from the deployment of the met mast are a critical input for project finance,” the company added at the time.