Energy Estate advising on raising growth capital for a leading SE Asian solar C&I company
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Press Release
14 September 2020 |
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Energy advisory firm Energy Estate has been appointed to advise Shire Oak Green Asia on the fund raising for the growth of their business.
Shire Oak Green Asia is developing, building and operating rooftop solar systems on industrial and agricultural facilities in Vietnam. Shire Oak is currently building out the first 60 projects of an initial pipeline of over 700 projects. The company has also commenced the development of pipelines of rooftop solar projects in three other countries in SE Asia, Cambodia, Myanmar and Indonesia.
Energy Estate’s role is to support Shire Oak Green Asia raising equity and debt capital to fund the growth of the business. The build-out of the large pipeline and further growth of the business will be funded through a combination of construction and long term equity and debt.
The Vietnamese solar rooftop portfolio will be backed by a combination of feed-in tariffs with EVN, the State-owned national utility, power purchase agreements with clients in the C&I sector and agreements with industrial zones.
Shire Oak Green Asia is part of the Shire Oak International group founded by Mark Shorrock. Mark has successfully developed a wide range of renewable energy businesses and projects over the last 15 years as founder of Wind Energy, Low Carbon and Shire Oak Energy, along the way delivering planning consents on over $2.5bn of renewable energy projects. Shire Oak International is also developing a portfolio of utility scale renewable energy projects in other emerging markets.
Simon Currie, principal of Energy Estate commented “Vietnam is one of the most exciting renewable energy markets globally. This year we have seen the government shelve plans for most of the proposed coal-fired power plants and international investors come into new sectors such as offshore wind.
Shire Oak has built a strong local team and solid platform for rapid growth. The solar rooftop market in Vietnam is expanding quickly helped by strong interest from the many MNCs with local tier 1 operations. We believe this is a very attractive immediate opportunity for investors interested in Vietnam and the broader SE Asian market”.
Vietnam is a key target market for Energy Estate building on the depth of experience of the team in SE Asia. Energy Estate is a member of Vietnam Corporate Energy Leaders which is an initiative led by WWF, VBSCD and Vietnam Chamber of Commerce and Clean Energy Investment Accelerator encouraging corporates with operations in Vietnam to shift to clean energy.
This mandate will be led by Simon Currie and Vincent Dwyer in Sydney and Peter Conway in London.
Shire Oak Green Asia is developing, building and operating rooftop solar systems on industrial and agricultural facilities in Vietnam. Shire Oak is currently building out the first 60 projects of an initial pipeline of over 700 projects. The company has also commenced the development of pipelines of rooftop solar projects in three other countries in SE Asia, Cambodia, Myanmar and Indonesia.
Energy Estate’s role is to support Shire Oak Green Asia raising equity and debt capital to fund the growth of the business. The build-out of the large pipeline and further growth of the business will be funded through a combination of construction and long term equity and debt.
The Vietnamese solar rooftop portfolio will be backed by a combination of feed-in tariffs with EVN, the State-owned national utility, power purchase agreements with clients in the C&I sector and agreements with industrial zones.
Shire Oak Green Asia is part of the Shire Oak International group founded by Mark Shorrock. Mark has successfully developed a wide range of renewable energy businesses and projects over the last 15 years as founder of Wind Energy, Low Carbon and Shire Oak Energy, along the way delivering planning consents on over $2.5bn of renewable energy projects. Shire Oak International is also developing a portfolio of utility scale renewable energy projects in other emerging markets.
Simon Currie, principal of Energy Estate commented “Vietnam is one of the most exciting renewable energy markets globally. This year we have seen the government shelve plans for most of the proposed coal-fired power plants and international investors come into new sectors such as offshore wind.
Shire Oak has built a strong local team and solid platform for rapid growth. The solar rooftop market in Vietnam is expanding quickly helped by strong interest from the many MNCs with local tier 1 operations. We believe this is a very attractive immediate opportunity for investors interested in Vietnam and the broader SE Asian market”.
Vietnam is a key target market for Energy Estate building on the depth of experience of the team in SE Asia. Energy Estate is a member of Vietnam Corporate Energy Leaders which is an initiative led by WWF, VBSCD and Vietnam Chamber of Commerce and Clean Energy Investment Accelerator encouraging corporates with operations in Vietnam to shift to clean energy.
This mandate will be led by Simon Currie and Vincent Dwyer in Sydney and Peter Conway in London.
