Coro Energy PLC, a Southeast Asian energy company, has provided an update on the sale of its Italian portfolio. The approval of the sale by the Italian regulatory authorities is progressing well. To accelerate its renewables portfolio, the company has signed an Addendum to the Sale and Purchase Agreement (SPA). Zodiac Energy PLC has agreed to make a further cash advance of EUR 0.7m, bringing the total advanced to Coro to date to EUR 2.5m. This will enable the company to procure a met mast in the Philippines for wind data and fund other projects. The longstop date under the SPA has been extended to December 31, 2023, to allow additional time for regulatory approval. At completion, Coro will settle the local Italian subsidiary intercompany loan, which will be assigned directly to Zodiac. The final completion payment will be reduced to EUR 1.36m plus the standard working capital adjustment. Coro is also due a deferred payment of EUR 2.0m, which will be offset with the assignment of the intercompany loan to Zodiac. The total potential consideration for the transaction is now EUR 7.4m. All other terms of the SPA remain unchanged.