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 Coro Energy inks deal with KIMY for rooftop solar portfolio in Vietnam

Coro Energy has announced that it has entered into an agreement with KIMY Trading and Service for the acquisition of a 3.25 MW leased rooftop solar portfolio in Vietnam.

The Southeast Asia-focused company inked a deal for revised heads of terms with the shareholders of the firm.

According to the company statement, the revised deal has been made following due diligence and site visits. Furthermore, it stated that the portfolio consists of four locations near Saigon.

The projects had been in operation for two years.

The company informed that it has an existing power purchase agreement with a remaining 18-year term with Electricity Vietnam (EVN) being the power off-taker, it further mentioned.

It has been informed that the total acquisition price stands at $1.7 million.

“Further protections in respect of the outstanding documentation will be incorporated into the final transaction documents albeit it is understood that achieving the documentation is purely an administrative process,” it said in its statement.