Coro Energy to Install Solar Rooftop Systems Across MWG's Portfolio

Coro Energy PLC, a leading South East Asian energy firm focused on natural gas and renewable energy solutions, has announced a key cooperation milestone. The company has signed an agreement with Mobile World Investment Corporation, a leading retailer of white goods and consumer electronics in Vietnam. Coro Energy will support the installation of rooftop solar systems across Mobile World Investment Corporation's extensive portfolio in Vietnam under the terms of this agreement.

With an extensive presence boasting 3,600 locations throughout Vietnam, Mobile World Investment Corporation can potentially incorporate 360MW of rooftop solar across its establishments. The MoU, granting Coro exclusivity on the initial 900 company sites (equivalent to an estimated 50MW of rooftop solar capacity), strategically focuses on the central and southern regions of Vietnam, where solar irradiation levels are the highest in the country.

In this groundbreaking initiative, Coro Energy will construct, own, and operate each rooftop solar system. The electricity generated from these installations will be directly supplied to each Mobile World Investment Corporation location through a 14-year Power Purchase Agreement. This agreement, extendable under certain circumstances, features variable pricing and a floor price set at US 11.2 cents per kilowatt-hour.

Coro Energy's Managing Director of Renewables, Michael Carrington, expressed his excitement about the collaboration, saying, "I am delighted to announce our strategic tie-up with Mobile World Investment Corporation, as we move at pace towards scale, focused on long-term, solid cash flows and funded largely by industry players we intend to farm into the portfolio."

This collaboration demonstrates Coro Energy PLC's dedication to sustainable energy efforts and the growing trend of businesses adopting renewable energy solutions for a better future.