Coro and the shareholders of KIMY Trading and Service JSC have entered into an exclusivity period for three months as Coro explores the potential to scoop up a 100 per cent interest in a leased rooftop solar portfolio across four locations close to Ho Chi Minh City. The leased rooftop solar portfolio has been in operation for two years and is covered by a power purchase agreement with a remaining duration of eighteen years with the state-owned Electricity of Vietnam as the power off-taker. The value of the proposed acquisition is estimated to reach $1.7 million, or $548 per MW. This will be paid by the assumption of $1 million of existing specialist renewables debt with a Vietnamese bank by Coro as well as $200,000 payable on completion of any acquisition in new ordinary shares in the company – locked in for 18 months from completion. The transaction is also covered with $250,000 in cash on completion and a further $250,000 in cash in six equal monthly instalments from … [Read more...] about Coro Energy negotiating to purchase 3.25MW portfolio of leased rooftop solar in Vietnam