One of our 2020 KPIs is to generate 2 to 4% of landlord’s building energy from renewable energy sources in selected new office developments. At One Taikoo Place, we have installed solar PV panels and a waste-to-energy tri-generation system, which are estimated to supply renewable energy equivalent to approximately 4% of landlord’s building energy.
Following the introduction of a new feed-in tariff scheme by HK Electric in 2019, starting from October 2019, the renewable energy generated by One Taikoo Place’s solar PV system is being supplied back to the electricity grid in accordance with the feed-in tariff scheme.
We continue to explore other ways of increasing renewable energy generation across our portfolio, such as installing solar PV panels on the roofs of INDIGO, Taikoo Hui in Guangzhou and Taikoo Li Sanlitun. After completing a comparative study in 2018 of the efficiency of these installations, we installed additional high efficiency solar PV panels at INDIGO in 2019.
Unlike conventional single-sided solar PV panels, high efficiency solar PV panels are fitted with material on their undersides that absorbs energy from scattered and reflected sunlight, resulting in higher power generation efficiency. We estimate that the high efficiency panels will generate approximately 150,000 kWh of renewable energy annually.
Going forward, we are conducting a study on renewable energy procurement to help us evaluate the feasibility, scale, costs and benefits of different renewable energy options within our Mainland China portfolios. The study will also evaluate governmental policies and programmes related to renewable energy procurement.