Onsite Renewable Energy Generation
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 installed solar PV panels and a waste-to-energy tri-generation system, which is estimated to supply renewable energy equivalent to approximately 2% 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 onsite renewable energy generation across our portfolio, such as installing solar PV panels on the roofs of INDIGO, Taikoo Hui and Taikoo Li Sanlitun. We also installed additional high efficiency solar PV panels at INDIGO in 2019.
Renewable Energy Generated in 2020
Offsite Renewable Energy
In 2020, our Sino-Ocean Taikoo Li Chengdu development became powered by 100% renewable electricity, making Swire Properties one of the first companies in Sichuan Province to achieve “net zero carbon” in its annual electricity consumption for landlord and tenant operations.
Sino-Ocean Taikoo Li Chengdu progressively increased the use of renewable energy sources in its procured electricity mix and has obtained 70% of its electricity from renewable sources since 2018. Earlier this year, the Sichuan Provincial Government implemented a new policy that allows enterprises to procure renewable electricity generated by hydro power, solar and wind power through contracting with a registered power retailer. The new policy enabled Sino-Ocean Taikoo Li Chengdu to obtain the remaining 30% of its electricity from renewable sources to achieve net zero carbon.
Besides enabling the reduction of Sino-Ocean Taikoo Li Chengdu’s overall CO2e emissions by approximately 7,000 tonnes each year, this transition has also increased the renewable electricity mix in our Chinese mainland developments to over 36%.