Building on our successful pilot of a Photovoltaic, Energy Storage, Direct Current, and Flexible (“PEDF”) power distribution system at Taikoo Li Sanlitun, Beijing, we expanded the pilot to other portfolios in 2024, including Taikoo Hui Guangzhou, Pacific Place and Citygate in Hong Kong. We estimate that the technology will reduce carbon emissions by about 10% compared to conventional power distribution systems.

Swire Properties’ PEDF systems at Building N15 and RED at Taikoo Li Sanlitun are now operational. On-site implementation work was completed in mid-2023, with a PEDF connection hub and two bi-directional electric vehicle chargers installed in the basement car park in early 2024. The bi-directional electric vehicle chargers apply Vehicle-to-Building (“V2B”) technology which can supply electricity power back to the building from vehicles’ built-in batteries during peak load times or power outages while ensuring that the EVs will have sufficient charge at the end of the workday.

System performance is evaluated on an ongoing basis. Significant energy savings of around 10% compared to traditional alternating current power distribution system are anticipated that will eventually result in cost savings to tenants and lower carbon emissions.

The PEDF pilot at Taikoo Hui Guangzhou was completed in the third quarter of 2024, where solar PV panels were installed and existing air conditioning equipment was modified to adopt the DC power generated from these panels for DC appliances inside offices. These tailor-made DC applications are expected to improve the flexibility and reliability of the energy supply.

The design for a PEDF system at Taikoo Li Chengdu has been completed. The system will see solar PV panels installed over almost 10,900 sq ft of flat roofs on multiple buildings in the complex, including the hotel and some retail buildings. The system is expected to generate approximately 200,000 kWh of renewable electricity annually. The design also aims to meet the criteria for a three-star PEDF award as defined in the “Assessment Standard for Photovoltaics, Energy Storage, Direct Current and Flexibility Systems in Buildings” (T/CABEE 055-2023) published by the China Association of Building Energy Efficiency (CABEE), reducing energy consumption by 5-10% and reducing the energy losses incurred when converting between AC and DC power. The DC-operated battery storage system will also add flexibility to the complex’s power demand control and maximise the capture of variable grid-provided solar power, enhancing Taikoo Li Chengdu’s power supply resilience.

A new PEDF pilot project in Hong Kong commenced in 2024. This will focus on the office building and will tentatively be implemented in Citygate and Pacific Place by 2025.

The proposed designs for Citygate and Pacific Place anticipate annual electricity generation from PV of 25,000 kWh and 14,000 kWh, respectively.

Since 2011, Swire Properties has partnered with Tsinghua University to run the Joint Research Centre for Building Energy Efficiency and Sustainability. Together, we have conducted pioneering research into sustainable methods and technologies, developed new artificial intelligence technologies for SD, improved indoor air quality control measures and optimised the energy structure of our properties – work that is changing our industry and the perception of sustainability.

Following the renewal of this collaboration for the third time in 2023, our joint efforts continued to increase energy efficiency and improve environmental performance across our projects. The 2024 highlights of our partnership included:

This continuing partnership will generate substantial energy savings and allow us to share innovative ideas and practices with our employees, business partners, industry peers and other researchers.

Since 2012, EAST Beijing has provided accommodations to Cathay Pacific airline crews flying between Hong Kong and Beijing. Part of their accommodation arrangements involve EAST Beijing providing the crews with round-trip transportation between the hotel and Beijing International Airport, a 20 km one-way journey.

Until January 2024, this task was carried out by a local transportation company operating 34-seat gasoline buses. Now, a fleet of new EV buses operates on the route, saving about 40 litres of gasoline daily, an estimated total reduction of 14,600 litres per year. The success of this transition has spurred the hotel to increase their use of EVs for guests and is encouraging transportation service partners to equip their fleets with more green vehicles.

This year, we have installed 74 additional EV chargers across our Hong Kong portfolio. These chargers support the Hong Kong government’s EV policy and will help us meet the anticipated increasing demand for charging facilities for our tenants and their customers in coming years. We will continue to review our provision of EV chargers to meet future demand.

We continue to increase our procurement of on-site and off-site renewable energy. In 2024, we secured nearly 100% renewable electricity for Taikoo Li Sanlitun and INDIGO. Taikoo Li Chengdu and Taikoo Li Guangzhou secured 100% renewable electricity in achieving net-zero carbon in annual electricity in both landlord and tenant operations.