Trump announces trade deal with EU following months of negotiations
HANOI - Coro Energy PLC, a player in the Southeast Asian energy sector, has expanded its partnership with Mobile World Group in Vietnam, signing an addendum to supply additional solar power. The agreement increases Coro’s commitment to provide power for 46 more solar sites, totaling about 0.8 megawatts (MW) of capacity.
The construction of these new solar sites will begin immediately, following the original Power Purchase Agreement (PPA) signed on March 8, 2024. Coro Energy’s current operational sites with Mobile World Group in Vietnam number 84, with a combined capacity of approximately 2.6 MW. This expansion is part of a Memorandum of Understanding which grants Coro exclusivity to develop rooftop solar systems across an initial 900 company sites in areas of Vietnam with high solar irradiation.
The updated PPA terms include a variable pricing structure with a minimum rate of 2,703 Vietnamese dong per kilowatt hour and the possibility of extending the agreement’s term under certain conditions. These terms are in line with those previously announced by Coro.
Coro Energy anticipates annual cash flows of around $350,000 from the currently operational sites. Additionally, the company is expected to sign a further addendum soon for four more sites in Ho Chi Minh City, which may include a pilot battery energy storage system. If agreed upon, this will bring Coro’s total contracted capacity to 3.7MW across 134 sites in Vietnam.
This expansion reflects Coro Energy’s growing footprint in the renewable energy market in Southeast Asia and aligns with Vietnam’s increasing adoption of clean energy solutions. The information reported here is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.