CLP Power Hong Kong Faces Growth and Decarbonisation Challenges with EVs and Digitalisation
Growth Driven by EVs and Digitalisation
CLP Power Hong Kong's electricity sales have surged, driven predominantly by i digitalisation and electrification trends in the economy. CLP Holdings' CEO, Chiang Tung-keung, highlighted that electrification plays a vital role in sectors like transportation, which has increased power demand.
Electric Vehicles Amplifying Demand
During the first nine months of 2024, sales grew by 2.5%, bolstered by record high temperatures and economic expansion. Notably, data centres now account for 5.6% of total electricity sales, rising significantly in recent years due to increasing i demand for cloud computing.
- Electric vehicles (EVs) comprised 72.6% of new licenses in 2024.
- Chiang emphasizes leading the company's energy transition to support net zero emissions by 2050.
Renewable Energy Strategy
CLP aims to eliminate coal usage by 2040, transitioning towards nuclear, wind and solar power. The company seeks to bolster regional cooperation for improved clean energy imports from Guangdong province.
- Expectations to double renewable capacity to 4 gigawatts by 2028.
- Green hydrogen's potential role in reducing emissions at natural gas plants by the 2040s.
Chiang notes that while feasibility studies for hydrogen usage are underway, sourcing affordable green hydrogen remains a primary challenge.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.