Link Asset Management has completed the installation of solar panels in 53 properties in Hong Kong, effectively becoming one of the city's largest private solar power system operators.
The company, which manages Link Real Estate Investment Trust (0823), revealed that 58 solar power systems were involved, with the total installed capacity reaching 4,500 kilowatt-peak.
The solar panels are expected to generate about 4.2 million kilowatt-hours of electricity annually, equivalent to the consumption of 1,273 three-member households per year.
The whole project saw nearly 8,500 solar panels installed on the rooftops of 53 Link properties, after the installation at Mei Lam Commercial Centre in Sha Tin was completed last month.
Among the 53 properties, Fu Tung Plaza in Tung Chung houses the single largest system in the portfolio. It spans 950 solar panels with an installed capacity of 530 kWp and is expected to generate 564,000 kWh of electricity annually.
Link said it has invested around HK$78 million in the solar energy generation project, and the estimated return-on-investment is 19.6 percent under the Feed-in Tariff Scheme based on the current total installed capacity. The renewable energy generated by Link’s solar power systems accounts for 3 percent of Link’s total power usage each year in Hong Kong.
The Feed-in Tariff Scheme, launched by the government in 2018, is an initiative to encourage wider adoption of renewable energy in Hong Kong. Under the scheme, renewable energy generated by solar panels installed at Link’s premises can be resold to power companies at a rate higher than the normal electricity tariff rate.
George Hongchoy, Link’s chief executive, said Link is proud to play a leading role in driving renewable energy adoption in Hong Kong.
STAFF REPORTER
