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Coro Energy Expands Solar Footprint in Vietnam with Mobile World Group

Coro Energy PLC has strengthened its renewable energy presence in Vietnam by expanding its partnership with Mobile World Group. The company has signed an addendum to its existing Power Purchase Agreement (PPA) to supply solar power to 46 additional sites, adding approximately 0.8 MW of capacity. The construction of these installations will begin immediately, following the initial PPA signed on March 8, 2024.

Currently, Coro Energy operates 84 solar sites with Mobile World Group, collectively producing 2.6 MW of power. The expansion is part of a broader Memorandum of Understanding (MoU), granting Coro Energy exclusive rights to develop rooftop solar systems across 900 company locations in high solar irradiation regions of Vietnam.

The updated agreement includes a variable pricing structure, ensuring a minimum tariff of 2,703 Vietnamese dong per kWh, with provisions for contract extension under certain conditions. These terms align with Coro’s previous agreements.

Coro Energy projects annual cash flows of approximately $350,000 from its operational sites. The company also plans to finalize an additional addendum for four more sites in Ho Chi Minh City, which may introduce a pilot battery energy storage system. If approved, Coro’s total contracted solar capacity in Vietnam will increase to 3.7 MW across 134 sites.

This expansion highlights Coro Energy’s growing influence in Southeast Asia’s renewable energy sector and supports Vietnam’s clean energy transition.