Keppel and HSBC Partner Up To Boost Clean Energy Innovations Across Asia

Keppel Corporation announced that it has signed an agreement with HSBC to pursue opportunities for energy transition aimed at reducing emissions in the Greater Bay Area and across Asia.

The agreement signed between Keppel’s infrastructure division and HSBC’s Hong Kong office will focus on scaling up low-carbon solutions in cities like Guangzhou, Shenzhen and Hong Kong, and help users save costs and improve energy efficiency.

Keppel’s sustainability offerings combined with HSBC’s ability to provide green financing will help both parties accelerate relevant climate change solutions, according to a join statement. Keppel is currently supporting Hong Kong’s first integrated waste management facility (IWMF) for municipal solid waste.

In 2017, the Hong Kong government awarded a contract in 2017 to Keppel and Zhen Hua Engineering to design, build, and operate an IWMF located off Shek Kwu Chau's coast.

The IWMF facility will utilize Keppel’s proprietary technology including its air-cooled grate, boiler design and advanced combustion control system, as well as Keppel Seghers Flue Gas Cleaning System.

Upon completion, Keppel will operate and maintain the facility for 15 years. The facility will not only reduce the total volume of waste directed toward Hong Kong’s landfills, it will also export about 480 million kilowatt-hours of electricity per year.

The memorandum of understanding was signed on July 24 by Cindy Lim, chief executive officer of Keppel’s infrastructure division and Luanne Lim, chief executive of HSBC Hong Kong.

The signing ceremony, held in Singapore, was witnessed by Singapore's Deputy Prime Minister Heng Swee Keat and John Lee, CEO of Hong Kong SAR. This high-profile event was organized by the Hong Kong government, targeting the business communities in both cities.