CLPe and Hysan Development Company Limited (Hysan) today (16 May) signed a Memorandum of Understanding (MoU) to explore opportunities for innovative energy management solutions at Hysan's core portfolio in the Lee Gardens area of Causeway Bay.
The solutions include proposals for a distributed district cooling system and initiatives to promote electrification and decarbonisation, with the aim to reduce carbon emissions from the properties. The shared aspiration is to transform Causeway Bay into a sustainable community that effectively optimises the impacts in terms of economic, environmental, and social development. Causeway Bay is one of Hong Kong's busiest districts and home to thousands of office buildings, shopping malls, restaurants, residential properties, and community facilities. Hysan owns approximately 4.5 million square feet of office, retail, and residential space mainly in the Lee Gardens area of Causeway Bay. Hysan's business development strategy adheres to the principles of sustainable development, aiming to address the needs of various stakeholders in this unique community and striking a balance between living, working, and leisure while minimising the environmental impact of development. Hysan's community business model places significant emphasis on carbon reduction, while CLPe brings in its extensive experience in assisting businesses with the adoption of low-carbon practices. Collaboratively, the two companies will explore the potential of adopting a one-stop energy management approach, with a focus to develop a distributed district cooling system in the Lee Gardens area and to enhance the existing cooling systems.
This endeavour includes conducting a feasibility study, jointly exploring financing, design, construction, and operation of the system. The plan involves the interconnection of cooling facilities across Lee Garden One to Six, Hysan Place, and the under-construction Caroline Hill Road project through the new pedestrian links and underground driveways. Once the entire system is connected, it will enable the properties to leverage the benefits of the distributed district cooling system, resulting in more substantial energy savings and carbon reductions. 2 Furthermore, this solution will also reduce maintenance and replacement costs associated with the cooling systems. Hysan and CLPe are actively promoting electrification by exploring the development of innovative one-stop electric vehicle charging services in Causeway Bay. The aim is to expand and enhance the existing electric vehicle charging infrastructure, thereby facilitating the development of green mobility practices in the area. In addition, the two companies will investigate the possibility of other solutions, including renewable energy generation to further reduce emissions from Hysan's properties. Executive Director and Chief Operating Officer of Hysan Development Company Limited Mr Ricky Lui said, 'With a century-old foothold in Causeway Bay, Hysan adopts the community business model as our sustainability approach. We are committed to harnessing technology as one of the enablers in our community business model, in a bid to build Lee Gardens into a sustainable and vibrant community that can adapt to change. In 2023, Hysan made a significant commitment to achieving our carbon reduction targets by joining the Science-Based Targets Initiative (SBTi). Our collaboration with CLPe will help us formulate management plans to improve energy efficiency, achieve more efficient energy conservation and carbon reduction, and take a crucial step towards Hysan's target of achieving net-zero carbon emissions by 2050 at the latest.'
CLP Holdings Chief Executive Officer Mr T. K. Chiang said, 'Climate change is a global challenge that requires concerted efforts from everyone. The establishment of a close partnership between CLPe and Hysan exemplifies how different enterprises can leverage their unique strengths to serve society in a sustainable way and to transform Causeway Bay into a sustainable community that balances economic, environmental, and social development.' Mr Chiang added that in addition to collaboration in Hong Kong, CLPe and Hysan hope to form partnership in the Greater Bay Area (GBA) and other cities across Mainland China, with the aim of applying sustainable community planning and one-stop energy solutions to a broader range of property projects, and supporting the GBA in achieving its carbon neutrality targets and contributing to the nation's '3060' dual carbon goals.
About CLPe
CLPe is a wholly-owned subsidiary of CLP Holdings Limited. The company provides a onestop shop for customers, integrating products and services into value-added solution packages to support low-carbon and sustainable business development. As a trusted partner for energy and infrastructure solutions in Hong Kong and Mainland China, CLPe delivers urban and industrial energy infrastructure in power, heating, 3 cooling, etransportation, and data centres to cities, comprehensive building energy management in cooling, solar energy, energy storage, EV charging, electrical and mechanical services, and smart solutions to commercial and industrial customers, and a platform of sustainable home products and services to mass market customers.
About Hysan Development Company Limited
Hysan Development Company Limited is a leading property investment, management and development company with a core portfolio of approximately 4.5 million of highquality office, retail and residential space in Hong Kong. With roots in the city that go back 100 years, Hysan has focused on building the community, mixing the traditional and the new, applying technology and practicing sustainability. It has transformed the Lee Gardens area into a modern smart community, with a unique Hong Kong character, making it an attractive destination for leading multinational corporations, international visitors and local residents. The Company has been growing its core portfolio through upgrades and expansion. It has also invested in strategic growth pillars which target opportunities brought about by the New Economy, with the aim of reinforcing Hysan's business by geography and by sector. Among its strategic pillars are Lee Gardens Shanghai and an urban renewal project in To Kwa Wan.
Contact:
Email: ir@clp.com.hk
HYSAN DEVELOPMENT COMPANY LIMITED 
