Shire Oak International

Vietnam

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Shire Oak International: 16 Year Track Record

• Leading UK renewable energy developer: Founded Wind Energy

UNITED KINGDOM VIETNAM
Ltd which became the leading independent developer of wind
farms

• Large scale renewable energy projects:

• Wind – 967 MW IRAQ UGANDA
• Tidal – 320 MW
• Solar – 350 MW

• Consented renewable projects portfolio: Total value USD 2.49 bn ZIMBABWE JAMAICA

• Global presence as a developer

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Shire Oak in Vietnam

Start of operations: Summer 2019

Business focus: Developing a portfolio of solar energy projects across Vietnam to meet
the fast-growing demand of its emerging economy

Current team size: 50+

Broad international expertise

Number of nationalities: 11

Current transaction pipeline: 720 projects and growing

Main industries: Garments & Shoes, Logistics, Steel, Agri/Food Processing, Plastic & Rubber,
etc.

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Senior Team

Mark Shorrock Borries Plass Simon Nias

CEO
Mark has consented over £1.9 billion of
renewable energy projects. He was a pioneer in
the UK wind and solar sectors through his
businesses Wind Energy Ltd and Low Carbon
Developers Ltd. Mark’s fund management
business set up one of the first UK solar roof
funds, the Low Carbon Downing solar VCT and
he is founder and leader of the ground breaking
320MW Swansea Bay Tidal Lagoon project
COO
Borries Plass is a senior business executive with
20 years of experience within the service
industry, of which 12 years in Vietnam. His
background involves industry sectors work with
financial services, manufacturing, retail and
utilities. Borries holds a bachelor’s degree from
Northumbria University at Newcastle Upon
Tyne, UK and an executive master’s degree in
business administration from the HULT
International Business School at Shanghai,
China.
Director of Development South
East Asia
Simon has held several leadership positions
across the world in his work for Singaporean
Homeland Security, the UK’s Ministry of
Defence, the United Nations and the British
Army, including Deputy and Chief of Staff of
Singapore’s Armed Response Forces for
Homeland Security in Singapore and Chief of
Staff of British Forces in Afghanistan. Simon
leads client engagement in Vietnam.

Mike Edge Virginie De Jongh

Head of Finance
Mike brings 10 years of financial structuring and
project optimisation experience in the low carbon
sector and has worked across development, venture
capital, corporate finance and project finance and
has worked with industry, governments and financial
institutions. Mike studied Natural Sciences at the
University of Cambridge. Mike leads the Transaction
Team in Vietnam as well as the financing elements.
Head of Customer Success
Virginie brings over 10 years of project development and
management across several industries. From start-ups,
multinationals to non-profits, her experience has led her to set-
up factories with Volvo CE in China, implement new processes
for SkyTeam at Schiphol Airport (Amsterdam), and manage the
Benelux Chamber of Commerce in Shanghai. Virginie studied
Business Management at the University of Louvain-la-Neuve,
Belgium and now leads the Customer Success Team in Vietnam.

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Senior Team

Vikas Pawar Vu Nguyen Rakesh P Iruppattil

Head of EPC Head of Sales – Agricultural Farms Head Of Sales – North Vietnam
Vikas has total 16 years of technical experience Rakesh is a senior executive with over 20 years
After working in the United States, Vu spent
which includes 5 years in Solar Energy Power of experience in driving productivity and
more than 6 years in banking and finance. He
Projects with executed 300MW. For profitability within Energy and Utilities domain.
was also involved in project development of
international experience, Vikas has 6.5 years - 5 He has worked closely with several Industry
several new banking products. Vu holds an
years in OMAN country (Headed Electrical majors such as Pacific Gas and Electric, BP Plc,
MBA from Angelo State University, Texas, and
Power Division -Energy Projects and O&M), at Sun Chemical, DuPont and others. He was
passed both of the Chartered Financial Analyst
Morocco and in Egypt worked as CM-PM solar conferred the title of IBM Top Talent for his
level I and II at his first attempts.
project. contribution to business process optimization.

Minh Le Van Vu
Head of Sales - Rooftop Department Head of Channel Sales
Van Vu has held many executive positions like
Minh has 27 years working in Diesel Power
Deputy Director of TTC Energy, VN Country
Generation with Cummins & Caterpillar as the
Head of SunSource and many other renowned
Head of Sales. Minh has long experience and
multinational companies with more than 10
deep understanding with Vietnam powergen
years of experience in C&I Industry in Vietnam,
market. At Shire Oak Minh is leading the sales
Business Development and many other key
team focusing in F&B, Electronics, public
roles. Her career added up more after her MBA
sectors, IPs & EVN.
from Universite du Quebec a Montreal.

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Solar Rooftop Opportunity in Vietnam

• Vietnam with a staggering 98.000 hectares of industrial parks

• A shortage of power and a concentration of industrial parks

in the South where the best sun hours are to be found

• The trend for more factories is continuing: many factories

move from China to Vietnam

• The country has a requirement for 6,000 MW of new power

a year

• The government is advocating the development of solar

rooftop projects by offering a preferential tariff for solar
power projects

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Legal Framework: Existing Grid Connection Policies and Regulations

Vietnamese government target of 12 GW solar PV by 2030. In order to exploit the solar energy potential and further detail
the solar power development policy, the Government issued:

 Decision 11/2017/QĐ-TTg dated 11 April 2017

 Decision No. 02/2019/QĐ-TTg dated 8 January 2019
 Decision No. 13/2020/QD-TTg dated 6 April 2020 on mechanism for encouragement of development of solar power in
Vietnam.

Agency Existing Policies & Regulations Relevant Content

39/2015/TT-BCT dated 18/11/2015 Detailing techniques for interconnection to the
MOIT
(Circular 39/2015) distribution system
16/2017/TT-BCT dated 12/9/2017 Guiding Decision 11/2017 and model PPA for rooftop
MOIT
(Circular 16/2017) solar power
5113/EVN-KD dated 9/10/2018
EVN Guidance for rooftop solar power interconnection
(Doc. 5113/EVN)

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CONTEXT

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Vietnam´s GDP Development

(Billion USD)

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Energy Consumption

The projected supply shortage in Vietnam

in 2021, 2022 and 2023 will be 3.7, 10 and
12 million MWh respectively.

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EVN Prices 2009 – 2019 (Manufacturers)

Average electricity retail price in Vietnam from 2009 to 2019 (USD cent/kWh)
9.0
8
8.0
7.4 7.4
7.0 6.9 6.9
6.4 6.4
5.95
6.0
5.4
5.0 4.5
USDc/kWh

4.1
4.0
Average annual
3.0
increase: 5-6%
2.0

1.0

0.0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

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Vietnam’s Energy Mix

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Consequences

High-rise buildings in HCMC are covered in

Hanoi ranked world’s 7th most polluted capital city
thick haze in the morning of November 19,
in 2019
2019. Photo by VnExpress/Thanh Nguyen

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The Challenge: Carbon Emission Reduction Plans

United Nations Sustainable Development Goal #7:

AFORDABLE AND CLEAN ENERGY

• Vietnam’s plans to comply with international climate

agreements, e.g. the Paris Accord

• New draft regulation on emissions reduction and climate

change adaption by paving the way towards an emission free
economy

• Among others, specific future targets for industries and sectors

 Need for early adoption of carbon emission reduction

strategies & measures

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Our Green Vision

Acknowledge the need for a new business approach & way of thinking

Reconcile legitimate business interests with sustainable development

Accelerate the global transition to renewable energy

Help companies achieve their sustainability targets

Support the preservation of our natural world

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OUR MODEL

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Key Facts

Profits go up. Carbon goes down Solution

• • All development, delivery and
No up front cost! Shire Oak offers a full
finance rooftop solar project. performance risk is taken by Shire Oak
• Over the course of its 30 year life cycle, International.
• Using reliable local companies to install
your new 1MW solar roof will save you
over $4 million and bring a reduction our solar systems helps supporting local
of 30 tons of Co2. businesses and communities.

Escape the power squeeze with green energy Quality

• Solar panels and Inverter from Tier 1
• What we offer is a chance to take
ranking by Bloomberg New Energy
control of your rising electricity costs. A
Finance with a 25 year warranty.
chance to cap your overheads with a
• Equipment transfers after lease to
new solar roof.
factory for nominal payment of 1
• While at the same time supporting
USD.
your sustainability targets.

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Solar Rooftop System Explained

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YOUR
ADVANTAGES

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Select Highlights

Green
Reduced carbon Cleaner
renewable
emissions environment
energy

Lower operational
Reduced Reduced Long term
costs and no
electricity costs cooling bills price hedging
upfront cost to you

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 Carbon Emissions Reduction

Carbon offset
30000.00 The total CO2 offset over asset life of 1MW PV
system is equivalent to:
25000.00
tCO2e

20000.00 25,000 tones per MW over asset life

15000.00 83,102 226,041,627 km
10000.00 trees driven
5000.00
planted by
scooters
0.00
2019

2021

2023

2025

2027

2029

2031

2033

2035

2037

2039

2041

2043

2045

2047
Cumulative carbon offset

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Green certificate: Leadership in Energy and Environmental Design (LEED)

By reducing carbon footprint, business can be more competitive and more

sustainable with green certificates.

• LEED is the most widely used green building rating system in the world
developed by the U.S. Green Building Council (USGBC).

• Framework for healthy, highly efficient, and cost-saving green buildings.

• Global symbol of sustainability achievement and leadership.

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Only Few Responsibilities For You
Shire Oak
Responsibility Client
International Asia

Development of project  
Electrical connection  
Construction of project (including WHS)  
Funding of capital costs  
Funding of operational costs  
Operation and maintenance of project  
Performance ratio guarantee  
Delivery of electricity  
Billing and metering  
Insurance for PV system (property all risks, 3 rd
party liability)  
Payment of lease rental (for power consumed)  
Provision of performance bond  
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COORPERATION
PARTNERS

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Our Partners: Engineering, Procurement, Construction
Kingtek
Kingtek was founded in 2015 and
has already built approximately
400 rooftops.
Their pipeline for Shire Oak as of
end 2019 stands at 78 projects,
totalling a 110 MW potential.
Vu Phong Solar
Vu Phong Solar was established
in 2009 and has delivered over
1,000 rooftop projects to date.
Vu Phong is currently a sub-
contractor for approximately
1,000 MW of ground mounted
solar, besides its pipeline for
Shire Oak which totals 100 MW.
Solar Electric Vietnam
Solar Electric Vietnam was
formed in 2015 and has to date
completed 4 MW of projects on
industrial buildings.
SEV currently has a portfolio of
214 MW with 41 potential
clients for development in
cooperation with Shire Oak.
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Why us?

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Why us?

We have 16 years of proven experience across the globe,

INTERNATIONAL founding pioneering projects in the UK, Europe and
TRACK RECORD beyond

EXPERIENCED
LEADERSHIP Our management boasts 5 nationalities with a combined
more than 100 years of business experience
TEAM

ESTABLISHED We have partnerships with investors across the globe,

INVESTOR BASE supporting our solid financial foundation

PREMIUM We only use Tier 1 solar panels sourced from

QUALITY manufacturers based in Europe, North America and Asia

SERVICE We offer full operations and maintenance support over the lifetime of
EXCELLENCE your solar system

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Thank You!

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