This is an important and integral function for baking textures, amazing that this is still no! If you make a Corona Scatter seamless distribution and baking with help Projection Modifir. It is primarily interested in people from the gaming industry, it is a good chance to realize!
That is what I mean: Texture Breakdown - Forest Ground - an artist working on The Division.
https://www.artstation.com/artist/benwilson
You did PBR is a great success that apply it to our goals!
Hi!
Im working on game industry too and I got corona because its such a good renderer 
I wanted to bake some interior stuff and grab all the lightning and normal info from the hi-poly to low-poly. But sadly I found out that its not possible. You can only bake stuff to the same object and not use a projection modifier 
I really desperately need this feature for corona!
This is a key feature. Being able to bake hi-resolution models onto low resolution is one of the fundamental applications of texture baking.
working on this…
first shot it out, please test it and send me any scenes where there are still problems
Digging out some old thread…
I tried to bake some textures with projection modifier and it doesn’t work as expected… everything is black, I must switch back to scanline 
RTT with projectin modifier is not yet supported in Corona.