Coro Energy PLC MOU with Mobile World Investment Corporation (4710P)
10 10월 2023 - 3:00PM
UK Regulatory
TIDMCORO
RNS Number : 4710P
Coro Energy PLC
10 October 2023
10 October 2023
Coro Energy Plc
("Coro" or the "Company")
50MW Memorandum of Understanding with Mobile World Investment
Corporation
Coro Energy PLC, the South East Asian energy company with a
natural gas and clean energy portfolio, announces that it has
signed a Memorandum of Understanding ("MoU") with Mobile World
Investment Corporation in Vietnam to install rooftop solar systems
across their Vietnamese portfolio.
Mobile World Investment Corporation is a white goods and
consumer electronics retailer company listed in Vietnam that
operates at 3,600 locations across Vietnam with the potential to
install 360MW of rooftop solar across all locations. The MoU grants
Coro exclusivity on an initial 900 company sites (estimated at 50MW
of rooftop solar capacity) in the central and southern regions of
Vietnam where solar irradiation is the highest in the country. Coro
will build, own, and operate each rooftop solar system and sell all
generated electricity directly to each Mobile World Investment
Corporation location under a 14-year Power Purchase Agreement,
extendable in certain circumstances, with variable pricing and a
floor price of US 11.2 cents/kilowatt hour.
Michael Carrington, Managing Director of Renewables,
commented:
"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."
For further information please contact:
Coro Energy plc Via Vigo Consulting Ltd
James Parsons, Executive Chairman
Ewen Ainsworth, Chief Financial Officer
Cavendish Securities plc (Nominated Tel: 44 (0)20 7397 8900
Adviser)
Adrian Hadden
Ben Jeynes
WH Ireland (Joint Broker) Tel: 44 (0)20 7220 1670 / 44
Harry Ansell (0)113 946 618
Katy Mitchell
Hybridan LLP (Joint Broker) Tel: 44 (0)20 3764 2341
Claire Louise Noyce
Gneiss Energy Limited (Financial Advisor) Tel: 44 (0)20 3983 9263
Jon Fitzpatrick
Doug Rycroft
Vigo Consulting (IR/PR Advisor) Tel: 44 (0)20 7390 0230
Patrick d'Ancona
Finlay Thomson
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK version of the EU Market Abuse Regulation 596/2014 which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended and supplemented from time to time. Upon the
publication of this announcement, this inside information is now
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END
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October 10, 2023 02:00 ET (06:00 GMT)
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