CLP : Launches Fund to Create Greener Buildings

中華電力有限公司

CLP Power Hong Kong Ltd

12 June 2014

CLP Launches Fund to Create Greener Buildings

CLP Power Hong Kong (CLP Power) today announces the launch of the CLP Eco Building Fund, a scheme to subsidise improvement works that enhance energy efficiency in the common areas of residential buildings and their nearby ancillary facilities.
The initiative comes under an agreement reached with the government in the 2013 Interim Review of the Scheme of Control Agreement (SCA), under which CLP Power will channel its shareholders' earnings to set up the CLP Eco Building Fund. This funding will be received under the energy efficiency incentive mechanism of the SCA, as the company fulfils its performance from 2014 until expiry of the current term of the SCA in 2018. The payouts are estimated to total around $70 million, that means the fund will have about $17 million each year to implement energy efficiency improvement works.
From 30 June 2014, either single block residential buildings or multiple-block housing estates with owners' organisations in the CLP Power supply areas are eligible to apply for grants from the fund. Subsidies will be granted on a 50/50 matching basis of the approved total actual expenditure of the enhancement projects which will be capped at a maximum of HK$500,000 for each building and HK$1,000,000 per application, to be paid out as a reimbursement.
The improvement projects can include works on lighting, air-conditioning, electrical installations, lifts and escalators in common areas, and must be completed within two years upon approval of the project.
"It is important to improve the energy efficiency for buildings as they account for 90 per cent of total electricity consumption in Hong Kong. This fund reaffirms our commitment to promote energy efficiency to the community at large, it helps owners of residential buildings to implement improvement works to save energy and cost," Ms Quince Chong, Chief Corporate Development Officer of CLP Power said.

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Applications to the fund will be processed and approved by a vetting committee comprising representatives from different sectors of the community who are keen on promoting energy efficiency. (For a full member list, please refer to Appendix 1). Priority will be given to single residential blocks buildings, especially those buildings fulfilling certain criteria such as ageing blocks without ancillary facilities and have not received other funding of similar nature.
Ms Chong added, "We hope the fund will help subsidise residential building owners who lack the means to carry out improvement works to upgrade the energy efficiency performance of their buildings, particularly older apartment blocks. We also hope it will be a powerful incentive for more residential building owners to work towards creating a low carbon city."
CLP Power will organise some public workshops to introduce the details of the fund and the application procedures. Building owners can log onto www.clponline.com.hk/ecobuildingfundto download the application forms, as well as to find out more details about the funding scheme and application process, or they can phone the hotline on 2678 0322.

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Appendix 1

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About CLP Power Hong Kong Limited

CLP Power Hong Kong Limited ("CLP Power") is a Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer service to 5.8 million people.

Photo Captions: (Photo 1)
(Photo 1) Ms Quince Chong, CLP Power Chief Corporate Development Officer, explains the details of the CLP Eco Building Fund and shows some examples of energy efficiency enhancement works for residential buildings.
(Photo 2)

(Photo 2) CLP Power launches the Eco Building Fund to subsidise residential building owners to carry out improvement works that enhance energy efficiency in the common areas of residential buildings and their nearby ancillary facilities.
(Right) Ms Quince Chong, Chief Corporate Development Officer of CLP Power
(Left) Mr Chow Lap-man, Director of Marketing and Customer Services of CLP Power

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(Photo 3)

(Photo 3) Ms Quince Chong, CLP Power Chief Corporate Development Officer, expects the launch of this Eco Building Fund will help those residential building owners who are lack of means to carry out improvement works, particularly aged and single block buildings, to save energy and cost.

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Ms Annissa Cheng
Public Affairs Manager
CLP Power Hong Kong Limited
Tel: (852) 2678 8926
Fax: (852) 2678 8090
Pager: (852) 71163131 a/c 8433
Email: annissa.cheng@clp.com.hk

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