2024 Sustainability Report / Our Sustainability Agenda / Energy growth opportunities

Energy growth opportunities

CLP is focused on providing reliable, sustainable energy at a reasonable cost. As electrification and digitalisation raise demand for low-carbon energy, it is well-positioned to capture new energy growth opportunities through investing in lower-carbon electricity infrastructure and providing decarbonisation solutions to customers.

Maintained a world-class supply reliability of 99.999%

in Hong Kong

Continued to support its customers such as Link REIT, City University of Hong Kong, and MTR Corporation (Shenzhen) Limited in expanding their renewable energy portfolios

Approved the connection of 404MW of distributed renewable energy (RE) systems to CLP’s grid via the Feed-in Tariff Scheme,

with rates ranging from HK$2.5 to HK$4 per
unit of electricity

CLPe supports the net-zero transition through investments in electrification and renewable energy projects, such as its Build-Own-Operate-Transfer agreements for solar systems with Link Properties Limited, the installation of nearly 2,000 bifacial solar panels at City University of Hong Kong, the expansion of the floating PV system at San Tin Polder and the completion of a distributed solar photovoltaics system at MTR (Shenzhen). In addition, in Hong Kong, CLP has approved the connection of 404MW of distributed renewable energy systems to CLP's grid via the Feed-in Tariff Scheme, with rates ranging from HK$2.5 to HK$4 per unit of electricity, highlighting its commitment to sustainable energy solutions.

CLP Power promotes green transport by providing professional support to accelerate the development of the electric vehicle (EV) charging network, which includes supporting the development of fast charging hubs and converting petrol stations into quick-charging facilities. CLPe has also signed EV Charging-as-a-Service contracts with electric minibus suppliers, corporate fleet operators and electric taxi providers. Additionally, EnergyAustralia is launching a commercial green transport package for business and industrial customers.

To further support customers in decarbonising their energy use, CLP Power continues to offer a comprehensive range of services and solutions, including Renewable Energy Certificates (RECs), energy audits, retro-commissioning and retrofitting trainings and subsidies for installing energy-efficient appliances.

Why is this topic material to stakeholders?

By improving energy affordability and reliability, CLP is contributing to community wellbeing and economic stability. Adapting to regulatory changes is essential for maintaining a strong market position and ensuring reliable energy services. CLP’s efforts in building a closed-loop EV ecosystem, one that includes land and marine transportation, is advancing cleaner transportation solutions that promote community health and align with national decarbonisation goals. Expanding into new markets is fostering economic growth by creating jobs.

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