Project Portfolio in Vietnam
Solar Rooftop Explained
Timeline of a solar rooftop
Wonders in Vietnam: Mark Shorrock
British Ambassador in Vietnam visits Shire Oak International and our 1 MW project in Long An
Masterclass Webinar: Vietnam Rooftop Solar Ep. 1
Phóng sự báo Thanh Niên về chuyến thăm của Ngài đại sứ Anh
Borries Plass on Netviet TV’s “Expert View on Renewable Energy”
Le Tran Hai Son
Tell me about your company
Founded in 2002, Shire Oak International is a leading developer and financier of large-scale renewable energy projects in developing countries and emerging economies. Our core mission is to be a global pathfinder in devising, implementing and spreading renewable energy solutions to drive transformational change in the rate of adoption of renewable energy in the developing world.
Where do you operate in?
Our founder and team members have backed some of the biggest projects in Europe, including the biggest solar plant in the UK and the world’s first 320MW tidal lagoon at Swansea Bay. To date, we have developed over 33 solar farms independently, while we have put teams on the ground to develop projects in Zimbabwe, Uganda, Colombia, Iraq, and Vietnam.
With Vietnam as the central hub of our regional operations, we enlarge our coverage through offices in nearby contries, including Malaysia, Indonesia, and more in the future. For a safe and sustainable future, we bring the expertise and experience we have gained operating in the renewable energy market to booming Asian economies. Our mission is to lead the roll-out of solar energy across the region, which is perfectly suited to adopt and expand this world leading technology.
I want to learn more about your business model
Shire Oak Internation is the developer and investor of large scale solar rooftops. We cooperate with businesses in the form of financial investment with contract duration from 15 to 20 years.
We currently have two partnership models:
1. Roof rental agreement:
We will rent the roof of the factory. The amount of electricity generated by the solar power system will be put directly into the grid and sold to Vietnam Electricity (EVN).
2. Power purchase agreement:
Shire Oak will invest 100% of the cost of consultancy, design, materials and installation of the solar rooftop. During the term of the contract, we will be entirely responsible for the operation and maintenance (O&M) of the equipment.
Businesses can use electricity generated by the system at discounted prices compared to that of EVN. In case the enterprise does not use all the electricity generated, the excess electricity will be sold to EVN and a part of the profits will be shared with the business.
When the contract expires, ownership of the solar rooftop will be transferred to the business.
How much money can I save?
Shire Oak International will pay for the initial installation, operation and maintenance costs for all solar systems. During the contract, clients will have the choice to apply one of the two electricity price models. To calculate the number you can save, use our Savings Calculation Model: https://shireoakinternational.asia/en/mo-hinh-tinh-toan-tiet-kiem/
How much of my energy consumption can be covered by the PV system?
Shire Oak needs to be provided with some of the factory/facility’s actual power consumption and specifications to estimate coverage.
How long is the lifespan of the system?
According to our experience in the field of solar power, a rooftop solar system has a lifespan of 25 to 30 years. After that time the system is still capable of operating but with lower performance.
How many tons of carbon emissions will be offset by the PV system?
The system may negate 35,000 tons per MW over the 30-year asset life. The saving is equivalent to 120,000 more trees planted and more than 300,000,000km of motorbike distance reduced.
What if the system doesn’t perform as promised?
“You need only pay for the energy generated, while all the risks are covered by Shire Oak. We also include a performance guarantee in the contract to assure that you get the promised electrical output.
Notably, top tier solar panels will be used in your system. These quality panels come with a 25-year power output warranty from global manufacturers. If a solar panel were to fail, it will be swapped out at our cost. The inverters are also tier 1 and benefit from a 5-year product warranty.”
What if I don’t use all the energy generated?
The excess electricity will be sold to EVN and the business will receive a share of the revenue.
What if we decide to move?
You can either transfer your current contract to the new tenants or move the PV system to your new location with actual cost and damage payable to and calculated by SOI.
Can I terminate the contract prematurely?
In case of early termination of the contract, the enterprise must pay compensation equivalent to the system value at the time of contract termination.
How much do you have to pay for the contract performance guarantee?
A roof rental agreement does not require a guarantee. With the Power Purchase Agreement, the amount of Guarantee depends on the amount of electricity consumed by the Customer.
Will the system be damaged in extreme weather, such as exceptional heavy rainstorms?
Our systems are secured and are designed to withstand all kinds of extreme weather. Additionally, wind loadings are considered during the design phase.
Will the system still function after the end of the contract?
Yes, we guarantee that the solar system will operate at 80% efficiency at the end of a 15-year contract and 70% at the end of a 20-year contract.
How much will O&M cost me after the contract?
After the system is transferred to you, you can either carry out O&M yourself using existing facilities management or have Shire Oak do that for you. The latter costs around $5,000 annually.
Will there be any problems such as fluctuations in power or power cuts when the factory switches between power from the PV system and power from the grid?
No, the flow is instant you will not be able to tell that anything has changed.
Can I get any accreditations to prove my effort to reduce carbon emissions?
You may obtain a number of certifications including the Leadership in Energy and Environmental Design (LEED) certificate, one of the most popular green building certification programs used worldwide by the United States Green Building Council (USCBD)
How much roof surface area is required to install a system?
You need at least 3500 sqm roof surface area to install our standard, fully functional system.
What keeps business from partnering with you?
In fact, there are still barriers such as the technical assessment process, and the time it takes to install the system on the factory floor. Other than that, the biggest reason is probably the investment model of Shire Oak that is not known by many people. They thought the cost would be expensive, but Shire Oak did not ask for any fee, businesses are only required the facilities that meet our installation requirements.
The maximum capacity for a single system must not exceed 1 MW.
Does switching between energy sources cause any damage to the factory's equipment and electrical system in the long run?
No, as our solar rooftops are grid-connected systems, the electric flow is constant and stable no matter what source we use.