Invest Gains to sell 7.5% stake in Coro Renewables

Invest Gains Viet Nam Co., Ltd., Coro's partner in Vietnam which is inclusive of Vinh Phuc Energy, has agreed to sell 7.5% of its 15% equity interest in Coro Renewables in Vietnam.

The company increased its equity interest in its Vietnamese venture from 85% to 92.5%. This was done in anticipation of and in preparation for the rollout of the recently announced 50 MW rooftop solar project in Vietnam. The consideration for this transaction is up to approximately US$290,000. This transaction will increase Coro's equity in the Vietnamese business and align its partners with Coro's shareholders.