---
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"
date: 2023-06-15
canonical: "https://www.share-talk.com/coro-energy-aimcoro-secure-solar-assets-in-vietnam-through-a-deal-worth-us1-3-million/"
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"]
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"
---

# Coro Energy (AIM:CORO) secure solar assets in Vietnam through a deal worth US$1.3 million.

**Published:** June 15, 2023
**Author:** sharetalk
**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)

---

**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.

Initially, 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.

Upon 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.

The 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.

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**Original URL:** https://www.share-talk.com/coro-energy-aimcoro-secure-solar-assets-in-vietnam-through-a-deal-worth-us1-3-million/
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