One of our 2025 KPIs is to generate 4-6% of the landlord’s building energy from renewable or clean energy sources in selected new office developments. At Two Taikoo Place, we will install solar PV panels, a wind turbine and a waste-to-energy tri-generation system, which we estimate will supply renewable energy equivalent to approximately 6% of the landlord’s building energy.
We continue to explore other ways of increasing on-site renewable energy generation across our portfolio, such as installing solar PV panels on the roofs of existing developments like INDIGO, Taikoo Hui and Taikoo Li Sanlitun. We installed additional high efficiency solar PV panels at INDIGO in 2019, while PV panels will be installed on Taikoo Place buildings in phases. In early 2022, we completed the installation of a 65 kW PV system at Dorset House.
Our newest residential project, EIGHT STAR STREET, is also the Company’s first residential project to adopt solar PV panels. These will generate an estimated 2,110 kWh of renewable electricity annually. This marks an important step forward for our residential projects.
Renewable Energy Generated in 2021
Off-site Renewable Energy Procurement
Since July 2021, the entire Taikoo Hui development – including the shopping mall, two office towers and the hotel – has been 100% powered by renewable electricity, generated via off-site wind power and purchased from a third party. This became possible due to a policy introduced by the Guangdong Provincial Government in June 2021, which allows enterprises to procure renewable electricity from a registered energy provider.
Swire Properties is one of the first real estate developers in Guangdong Province to accomplish net-zero carbon in its annual electricity consumption for landlord and tenants’ operations. This milestone will allow Swire Properties to reduce Taikoo Hui’s annual CO2 emissions by over 12,000 tonnes and increase its mix of renewable electricity in the Chinese Mainland to approximately 47%