Coro Energy to build 50 MW of rooftop solar in Vietnam

UK-based and southeast Asia-focused Coro Energy Plc (LON:CORO) has signed a memorandum of understanding (MoU) for 50 MW of rooftop solar projects across hundreds of sites of Vietnamese computer and electronics retailer Mobile World Investment Corporation (VN:MWG).

The pact gives Coro exclusivity on installing the systems on an initial 900 company sites in the central and southern regions of the country. There is also an option to expand the partnership to cover all of Mobile World’s 3,600 locations across Vietnam which will result in a total installed capacity of 360 MW of rooftop solar.

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Under the contemplated deal, Coro will build, own and operate the systems and sell their entire output to each Mobile World location under a 14-year power purchase agreement (PPA). The PPA, with variable pricing and a floor price of USD 0.112 per kWh, is subject to potential expansion.

(USD 1 = EUR 0.950)