Coro Energy Acquires 2.39MW Rooftop Solar in Vietnam

• Coro Energy has signed a USD-1.3-million agreement to acquire a 2.39 MW rooftop solar portfolio in Vietnam, with an 18-year power purchase agreement and a payment plan including cash, new shares, and existing specialist debt. Completion expected in Q4 2023.

Coro Energy has signed a USD-1.3-million agreement to acquire a rooftop solar portfolio in Vietnam with a total generating capacity of 2.39 MW. The portfolio is composed of three locations close to Saigon and has an eighteen-year power purchase agreement with state-owned Electricity Vietnam. The transaction includes cash, new Coro ordinary shares, and USD 600,000 of existing specialist renewables debt with a Vietnamese bank, plus USD 300,000 in six monthly instalments from completion. The deal is expected to be completed in the fourth quarter of 2023.

How Coro Energy Acquired 2.39MW Rooftop Solar?

• Coro Energy Plc (LON:CORO) signed a USD-1.3-million (EUR 1.18m) definitive agreement to acquire a leased rooftop solar portfolio in Vietnam with a total generating capacity of 2.39 MW
• The portfolio has been operational for two years and has an existing power purchase agreement (PPA) with state-owned Electricity Vietnam
• The deal includes USD 111,912 in cash and USD 285,000 in new Coro ordinary shares payable at close
• Coro will also assume USD 600,000 of existing specialist renewables debt with a Vietnamese bank
• USD 300,000 in cash will be paid in six equal monthly instalments from completion