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/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.