Coro Energy has edged closer to a potential acquisition of a 3.25MW rooftop solar portfolio in Vietnam, announcing it was entering into a three-month period exclusivity period with the current shareholders on Friday.
South East Asia – focused Coro said it would pay KIMY roughly US$1.7mln for the portfolio, subject to appraisals and negotiations.
Michael Carrington, Coro Renewables managing director added: "I am delighted with this exclusivity period which allows the company to commence a deep dive due diligence.
“Any acquisition pursuant to the exclusivity period would take our Vietnam portfolio to 6.258 megawatts in total, thereby accelerating our solar deployment in Vietnam."