Coro Energy has forwarded the project of potential acquisition of a leased rooftop solar portfolio in Vietnam.
For this, the company entered an exclusivity period of three months with the shareholders of KIMY.
According to the South-east Asia-focused company, the portfolio is spread across four locations. It informed that the portfolio had been operational for two years.
A local report mentioned that the portfolio is led by “power purchase agreement with a remaining 18-year term, with the power off-taker being the state-owned Electricity Vietnam (EVN).”
The company informed that under that agreement, the acquisition of the portfolio would cost a total of $1.7 million.
“I am delighted with this exclusivity period which allows the company to commence a deep-dive due diligence,” Coro Renewables managing director Michael Carrington was quoted in a statement.
He further stated, “Any acquisition pursuant to the exclusivity period would take our Vietnam portfolio to 6.258 megawatts in total, thereby accelerating our solar deployment in Vietnam.”
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