Coro Energy has expanded its presence in Vietnam’s renewable energy market by signing a long-term rooftop solar agreement with An Viet Phat Group. The deal marks another step forward in the company’s plan to grow its clean energy portfolio in Southeast Asia.
As part of the agreement, Coro Energy will install and operate rooftop solar systems across multiple industrial sites owned by An Viet Phat Group. The contract will run for 25 years and will follow a leasing model, where Coro will take care of equipment installation, operations, and maintenance. The initial phase will cover 1.6 megawatts (MW) of solar capacity across two factories.
The company has already taken steps to begin execution, with construction expected to start soon. An engineering and construction contract has been awarded to Peb Steel Buildings Company Limited. Coro Energy plans to fund this first phase using its existing cash reserves, showing its readiness to move quickly on the project.
While the first phase is relatively small, the overall opportunity is much larger. Coro Energy confirmed that it is in advanced discussions with An Viet Phat Group to expand the partnership further. The proposed expansion would include rooftop solar installations at five additional factories, adding another 8.4MW of capacity. If completed, the total project size would reach around 10MW, making it a key milestone for Coro’s operations in Vietnam.
An Viet Phat Group is a well-known company in Vietnam, especially in the biomass energy and wood products sector. It is also one of the world’s leading exporters of wood pellets. This makes it an important partner for Coro Energy, as both companies aim to reduce carbon emissions and promote cleaner energy use in industrial operations.
Tom Richardson, Chairman of Coro Energy, said the agreement shows how effective and scalable the company’s business model is. He also mentioned that Coro has a strong pipeline of similar projects in Vietnam, indicating more growth opportunities ahead.
The rooftop solar projects are expected to be included in a planned debt financing arrangement once it is finalized. By securing long-term agreements with established industrial partners, Coro Energy is strengthening its renewable energy portfolio and supporting Vietnam’s shift toward greener power. The deal also highlights the rising demand for reliable and sustainable energy solutions among industrial businesses in the region.
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