UK-based Coro Energy Private Limited has signed an agreement for the first phase of an overall 50 MW rooftop solar project at Mobile World Investment Corporation’s sites in Vietnam.
Following a memorandum of understanding (MoU) signed in October 2023, Coro has signed a 14 year power purchase agreement (PPA) with Mobile World Group (MWG) to deliver power at the first 10 sites as a pilot phase with a capacity of 430 kW. The offtake agreement, which has the option to be extended under conditions, provides for a variable price with a floor of about USD 0.112 per kWh. The installation of the first 10 sites is set to commence in March 2024 and be completed in 28 days. Upon completion and post-commissioning analysis, Coro will initiate the full-scale rollout of the originally planned 900 MWG locations.