Ho Chi Minh City, June 29, 2022, at the Hai Phong Economic Zone Authority, Shire Oak International successfully signed a direct power purchase agreement with Sao Do Group and a roof lease agreement with the tenants in Nam Dinh Vu Industrial Park (owned by Sao Do Group).

The signing ceremony was witnessed by representatives from the two partners, tenants in Nam Dinh Vu IP, and distinguished guests as Mr. Le Trung Kien, Member of the Standing Committee of the City Party Committee, Head of the Hai Phong Economic Zone Management Board and Mr. Harry Rawicz-Szczerbo, Head of Trade and Investment Department, British Embassy. Photo: Sao Do Group

According to these agreements, Sao Do Group will create favorable conditions for Shire Oak International to install and operate rooftop solar power systems in Nam Dinh Vu Industrial Park (IZ). This system will have a capacity of up to 69 MWp and is capable of generating 77 million kWh as well as reducing emissions by about 65,246 tons of CO2 annually. The amount of electricity generated from the system will be sold to Nam Dinh Vu Electric Business Joint Stock Company (NDVESCO) at a discount compared to EVN price.

From Shire Oak International, there were Mr. Mark Shorrock, our CEO and Mr. Huy Do, our Director of Business Strategy Planning. Photo: Sao Do Group

The pioneer project under the cooperation between Shire Oak International and Sao Do Group is located at Tuong Vien Group (a tenant in Nam Dinh Vu IP) with a capacity of up to 14 MWp.

Mr. Mark Shorrock, CEO of Shire Oak International and Mr. Bui Tien Binh, Director of Nam Dinh Vu Electric Business Joint Stock Company (NDVESCO) signed the Power Purchase Agreement between Shire Oak International and NDVESCO. Photo Sao Do Group

The signing ceremony was witnessed by representatives from the two partners, tenants in Nam Dinh Vu IP, and distinguished guests as Mr. Le Trung Kien, Member of the Standing Committee of the City Party Committee, Head of the Hai Phong Economic Zone Management Board and Mr. Harry Rawicz-Szczerbo, Head of Trade and Investment Department, British Embassy.

Speaking at the ceremony, Mr. Le Trung Kien, Member of Standing Committee of City Party Committee, Head of Hai Phong Economic Zone Management Board shared: “Transitioning to renewable energy is a trend that is here to stay, a must have not a nice to have. At the recent UN Climate Change Conference(COP26), Mr. Pham Minh Chinh attended strongly set a target for Vietnam to achieve net-zero emissions by 2050.”

Sao Do Group was established by a group of talented individuals who had previously worked for big enterprises across Vietnam. They have dedicated their intelligence, and desire to create a Vietnam group operating in multiple industry with international standards.

The fields in which Sao Do Group is being operated can be mentioned such as: construction, investment, business, warehousing, import and export… Nam Dinh Vu Industrial Park is one of the typical projects of Sao Do Group.

In 2022, they have created a sustainable orientation strategy for Sao Do Group. Under this strategy, Nam Dinh Vu IP will be developed in the environmentally friendly direction. As a result, Sao Do Group and Shire Oak International have cooperated to develop renewable energy projects, generating clean energy for Nam Dinh Vu IP, contributing to tackle climate change.

“Through this cooperation, Sao Do Group will be the pioneer to investing in renewable energy transition in industrial parks,” stated Mr. Nguyen Thanh Phuong, General Director of Sao Do Group.

Shire Oak International is a developer and financier of large-scale renewable energy projects in developing countries and emerging economies. Our team have developed over $2bn of renewable energy projects worldwide. In Vietnam we are developing a broad portfolio of solar energy projects across the country. By working with corporates and educational establishments across the region, we are currently deploying circa US $450 million of equity funding to build out 650MW of Vietnamese rooftop solar installations.

Commenting on the green initiative of Sao Do Group, Mr. Mark Shorrock shared: “I have worked with quite a lot of global businesses, especially those in RE100 group, in many different countries. They all share the same vision of using 100% renewable energy productions by 2035. Thus, localities or industrial zones that want to receive capital flows from these RE100 enterprises need to be ready for an investment environment where renewable energy is encouraged.”

About Sao Do Group

The Sao Do Group has been established and developed by the convergence of the minds, beliefs and aspirations of individuals who have worked in many big enterprises throughout the country. They are gathering here to make their desire which is to create a world-class Vietnamese multidisciplinary economic group come true.

With the internal strength, agility to grasp the opportunities, breakthrough into new areas, the Group has step by step perfected all activities, overcome difficulties of initial establishment and found the way for most suitable development. Up to date, Sao Do has become a multi-disciplinary private economic group with many member companies and allied companies.

About Shire Oak International

Shire Oak International is a developer and financier of large-scale renewable energy projects in developing countries and emerging economies. Our team have developed over $2bn of renewable energy projects worldwide. In Vietnam we are developing a broad portfolio of solar energy projects across the country. By working with corporates and educational establishments across the region, we are currently deploying circa US $450 million of equity funding to build out 650MW of Vietnamese rooftop solar installations.

For Media Contacts

Shire Oak International

Son Bui, Director of Marketing & PR

Phone: +84 909300803

Email: [email protected]