Siemens JV interested in Coro Energy’s Vietnam rooftop solar ops

UK-based and southeast Asia-focused Coro Energy Plc (LON:CORO) announced today it has attracted an indicative funding proposal from Capton Energy concerning its Vietnamese rooftop solar projects.

Capton, a joint venture between Siemens Financial Services and Saudi solar power company Desert Technologies, is seeking to buy into Coro's current Vietnamese solar projects and invest in its project pipeline of up to 50 MW.

The parties are now holding advanced talks and the suitor has been given a four-month exclusivity to negotiate a transaction, according to a statement.

Capton Energy was established in February 2022 to develop and invest in more than 1 GW of solar and smart infrastructure in the Middle East, Africa and Asia.

Coro is a Southeast Asian energy company with a natural gas and clean energy portfolio. In June, it agreed to acquire a leased rooftop solar portfolio in Vietnam with a total generating capacity of 2.39 MW.

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