Power utility CLP, the first major Hong Kong company to invest in Zhaoqing, eyes renewable energy projects to meet bay area’s electricity needs

The Hong Kong-based power company invested in a hydroelectric power plant in Zhaoqing 23 years ago, which now supplies 120,000 households

CLP says it will explore opportunities to provide more clean energy in the bay area from sources such as solar and wind power

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CLP has raised its shareholding in the Huaiji power plant from 41.5 per cent in 1997 to 84.9 per cent now. Photo: Dickson Lee

Published: 2:48pm, 11 Sep 2020Updated: 2:10pm, 19 May 2021

CLP, Hong Kong’s largest power utility and the first major local company to invest in Zhaoqing more than two decades ago, will continue to supply electricity in the Greater Bay Area city to support its future development, according to senior executives.

The Huaiji Hydro Power Station in Zhaoqing, the largest bay area city geographically, was the first renewable energy project for CLP. It was established in 1997, the same year Hong Kong was handed back to China.

CLP has increased its investment in Zhaoqing over the last two decades and has already invested 480 million yuan (US$70.18 million) in the power plant there. The Hong Kong electricity company has raised its shareholding in the Huaiji power plant from 41.5 per cent in 1997 to 84.9 per cent now.

“The project provides a stable power supply needed for the social and economic development of Huaiji County in Zhaoqing. It also establishes a stable foundation for CLP to develop renewable energy business,” said Chan Siu-hung, CLP’s managing director for China, who joined the firm in 1981 and oversees the company’s business in mainland China.

“CLP will continue to explore opportunities in Zhaoqing and other GBA cities to provide clean and stable electricity in the region. We will focus on renewable energy projects such as wind, solar and hydro and smart energy.”

Smart energy refers to the use of artificial intelligence and other new technology to enable companies to reduce their energy use.

The power plant has generated an average annual profit of around 65 million yuan over the last decade for CLP, while it provides an electricity sufficient for 120,000 households per year.