Coro Energy PLC (AIM:CORO) told investors it has successfully completed the commissioning of its Vietnam rooftop solar pilot project.
The 3 megawatt pilot project – more than 4,500 solar panels, across four factory roofs, covering 16,120 square metres – is now delivering electricity which is being consumed on-site by ‘premier’ Vietnamese textile manufacturer Phong Phu Corporation.
Coro said the project is now expected to deliver around US$300,000 of net cash flows.
Moreover, Coro highlighted that due diligence and technical assessments are underway with regards to potential clients and locations for additional rooftop solar projects.
"We are delighted to now be producing power and to have commenced our first revenue stream in Vietnam,” said Michael Carrington, Coro’s managing director for renewables.
“The whole team, including Coro's partner and suppliers, has performed exceptionally well delivering this maiden project, and I am very proud of what has been achieved safely, on schedule and to budget.
“We have set a high bar for future projects, but we now know our capabilities and look forward to rapidly building our solar portfolio."