HKUST and French companies to launch campus low-carbon retrofit pilot project

Invest Hong Kong on Wednesday welcomed the signing of the first works contract and a second-phase memorandum of understanding (MOU) between Hong Kong University of Science and Technology (HKUST) and a consortium of French companies, to implement a low-carbon retrofit pilot on the university campus. 

The works contract, signed by HKUST, Schneider Electric and Veolia, will launch a green retrofit project at the Lee Shau Kee Business Building. Under an Energy Performance Contract model, the two French companies will finance the upfront investment, which will be recovered over 15 years through verified energy savings. HKUST will therefore bear no initial construction or equipment costs. 

The project features an AI-powered system that tracks real-time classroom occupancy to automatically adjust cooling mechanisms. This approach is designed to reduce energy waste while maintaining user comfort. Installation is expected to be completed within 24 months.

Meanwhile, HKUST signed a second-phase MOU with Bouygues-Dragages and Veolia to explore expanding the decarbonization initiative to student residences and other campus buildings. The parties will also develop innovative financing mechanisms to support wider retrofitting projects across Hong Kong.

The agreements build on a partnership formed in September 2025 following the publication of the Team France Green Paper in April 2024, which aligns French green technology with Hong Kong’s goal of achieving carbon neutrality by 2050. 

Christile Drulhe, Consul-General of France in Hong Kong and Macau, welcomed the swift transition from planning to action, describing the pilot as a strong example of public-private partnership in accelerating low-carbon transformation.

Alpha Lau, Director-General of Investment Promotion of InvestHK, said that carbon neutrality creates significant business opportunities. “In this groundbreaking pilot, we do not just facilitate investment but also help build an addressable sustainability market that connects government, industry, academia, research and investment,” he said. 

Professor Tam Kar-yan, Acting President of HKUST, stated that the initial partnership paved the way for this formalized, performance-based project, moving the university from intention to implementation while reinforcing its long-term net-zero commitment.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓