Coro Energy, an UK-based and Southeast Asia-focused energy company, announced on Monday that it has inked a 25-year power purchase agreement (PPA) with Phong Phu, a Vietnamese textiles producer.
Under the deal, Phong Phu will acquire 3 MW of solar power from Coro’s 5-MW rooftop solar plant.
In November, Coro reached a binding agreement with Vietnam’s Vinh Phuc Energy JSC to form a joint venture in Vietnam named Coro Renewables Vietnam, with Coro Energy taking over 85% of the stakes and Vinh Phuc Energy the remaining 15%. The two companies co-own a portfolio of 150-MW rooftop solar project in Vietnam.
