Keppel and HSBC Join Hands For Low-Carbon Solutions

The agreement aims to reduce emissions in cities like Guangzhou, Shenzhen and Hong Kong

Singapore’s Keppel Corporation has signed an agreement with HSBC Hong Kong for pursuing energy transition opportunities aimed at reducing emissions in China’s 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 such as Guangzhou, Shenzhen and Hong Kong, and help users save costs and achieve energy efficiency.

Keppel’s sustainability offerings and HSBC’s ability to provide green financing will help the parties accelerate relevant climate change solutions, they said in a joint statement. The agreement was signed by Keppel chief executive for its infrastructure division Cindy Lim and HSBC’s Hong Kong CEO Luanne Lim.
The signing was witnessed by Singapore’s Deputy Prime Minister Heng Swee Keat and Hong Kong Chief Executive John Lee during his first official visit to Singapore.

Keppel is currently supporting Hong Kong with its first integrated waste management facility (IWMF) for municipal solid waste. In 2017, Keppel and Zhen Hua Engineering were awarded a contract by the Hong Kong government to design, build and operate an IWMF off the coast of Shek Kwu Chau island.

The IWMF will utilise Keppel’s proprietary technology with its air-cooled grate, boiler design and advanced combustion control system, as well as the Keppel Seghers flue gas cleaning system. When completed, Keppel will operate and maintain the IWMF 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.