HK Electric Investments and HK Electric Investments : ​HK Electric Pledges Full Support for "Net-Zero Carbon Emissions for Electricity Generation"

HK Electric welcomes the announcement today by the Chief Executive that Hong Kong will adopt "net-zero carbon emissions for electricity generation". Strategies to cease coal-fired power generation by 2035 and substantially increase renewable energy applications have been set out to achieve carbon neutrality before 2050.

A spokesman for HK Electric pledged the Company's full support for the proposed strategies and looked forward to the "The Hong Kong Climate Action Plan 2050", to be announced shortly by the Environment Bureau. "HK Electric would engage with the Government on the best way forward to decarbonise. We will also maintain close dialogues with our stakeholders to promote the sustainable development of Hong Kong", the spokesman said.

The spokesman pointed out that HK Electric has been pursuing various decarbonisation initiatives, including replacing coal-fired generating units with gas-fired generating units and renewable energy. Last year, about 50% of the electricity output came from gas-fired generation, resulting in a 25% drop in carbon emissions compared with the 2005 base year. With more gas-fired units coming on stream, the entire coal-fired power generation fleet would be phased out by the mid-2030s.

The spokesman added that the company has been moving full steam ahead with the development of local renewable energy. Besides introducing the Feed-in Tariff scheme for customers, HK Electric has plans to build a large-scale offshore wind farm in Hong Kong. Meanwhile, the Company remains open-minded about innovative generation solutions and closely keeps track of new energy development, including green hydrogen energy.