{"id":108573,"title":"Coro Energy (AIM:CORO) secure solar assets in Vietnam through a deal worth US$1.3 million.","publisher":"Share Talk","author":"sharetalk","published":"2023-06-15T06:56:01+00:00","modified":"2023-06-15T06:56:01+00:00","canonical_url":"https://www.share-talk.com/coro-energy-aimcoro-secure-solar-assets-in-vietnam-through-a-deal-worth-us1-3-million/","markdown_url":"https://www.share-talk.com/coro-energy-aimcoro-secure-solar-assets-in-vietnam-through-a-deal-worth-us1-3-million.md","json_url":"https://www.share-talk.com/coro-energy-aimcoro-secure-solar-assets-in-vietnam-through-a-deal-worth-us1-3-million.json","category":"Energy","categories":["Energy"],"tags":["Acquisition","Asian","Carbon","CORO","Coro Energy","Dubai Energy Partners","Electricity Vietnam","gas","Mark Hood","oil","producing","Saigon","Share Talk","shut-in","Solar","Vietnam","Vietnamese","Vinh Phuc Energy JSC"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Coro Energy PLC (AIM: CORO)** announced its plans to procure a set of rooftop solar assets in Vietnam, a deal valued at US$1.3 million. The transaction is anticipated to yield profits and generate positive cash flow.\n\nInitially, Coro Energy was set on purchasing a 3.25 MW section of KIMY Trading Services’ solar portfolio lease, spread across four locations in Saigon. However, following an in-depth due diligence process and site visits, the acquisition scope was reduced to a 2.39 MW portfolio, and the price was adjusted correspondingly.\n\nUpon finalizing the acquisition, Coro Energy will take on a debt of $600,000, make a cash payment of $111,912 (which includes $30,000 for firefighting certificates), issue new shares worth $285,000 that will be locked for 18 months, and additionally, pay $300,000 in instalments.\n\nThe portfolio, which has been operational for two years, includes an 18-year power purchase agreement with the state-owned entity, Electricity Vietnam. The acquisition deal is expected to be finalized in the fourth quarter."}