CLP Group has announced its commitment to a comprehensive climate change strategy, including an ambitious target to reduce the carbon intensity of its power generation portfolio by 75% by 2050.
Separately, the Group today also announced it is close to meeting its 2010 renewable energy target of 5%, which was set in 2004, following agreement to develop another wind energy project in India. The 82.4MW wind farm in the southern state of Karnataka will be the group’s second largest wind farm and will increase the renewable energy in its total generation portfolio to 545MW or 4.9%.
The CLP Group is one of the largest investor-owned power businesses in Asia Pacific region and its generation portfolio includes coal, gas, nuclear, wind, hydro and biomass generation.
Releasing the Group’s climate change manifesto today, CLP Chief Executive Officer, Mr Andrew Brandler, said: “Our target will lead to the saving of millions of tonnes of carbon emissions between now and 2050. It is a major departure from business as usual, which will require an entirely different view of our business and our facilities.”
To achieve the deep cuts necessary to reach its CO2 emissions intensity target of 0.2 kilograms of CO2 per kilowatt hour by 2050, which is equivalent to a 75% reduction in its current intensity, CLP’s Manifesto on Climate Change includes intermediate targets and a range of specific initiatives. The Group’s current carbon emissions intensity is 0.84 kg/kWh.
The intermediate targets that have been set:
• A 5% reduction in intensity to 0.8kg CO2/kWh by 2010
• A 15% reduction in intensity to 0.7kg CO2/kWh by 2020
• A 45% reduction in intensity to 0.45kg CO2/kWh by 2035.
The initiatives that CLP will undertake to reach these goals include:
• Increasing the non-carbon emitting power generation capacity to 20% of the total by 2020. This includes nuclear, large hydro, and more than 5% of other renewable energy.
• Not building any new conventional coal-fired power stations in Hong Kong or developed countries.
• Planning, on a country-by-country basis, a transition from conventional coal to more climate friendly fuels or technologies.
• Investment in more gas-fired generation.
• Increasing investment in energy efficiency.
“Today, as an example, we have broadened our involvement in the Indian wind sector through an agreement with Enercon (India) Limited to develop the 82.4MW greenfield Saundatti project. The project will cost more than US$105 million and construction is planned to start at the end of 2008,” Mr Brandler said. “We can expect the portfolio of wind energy projects in India to continue to grow.”
CLP intended to be at the forefront of adopting emerging technologies which will allow the Group to maximize the efficiency of its plants and reduce its carbon emissions.
CLP’s Manifesto includes a call for urgent action for a new post-Kyoto framework that will help drive a reduction in carbon emissions by establishing effective and enforceable international agreements and structures and allow developing nations to meet their growing energy needs, without undermining the living standards achieved in the developed world.
CLP Group
CLP Holdings, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, which is one of the largest investor-owned power businesses in Asia. Through CLP Power Hong Kong, it operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to over 5.5 million people in its supply area.
The CLP Group is the largest external investor in the Chinese mainland electricity industry, and a leading international private sector power company in the Asia-Pacific region with an integrated energy business in Australia and interests in OneEnergy, a 50-50 joint venture with Mitsubishi Corporation, which owns generating assets in Southeast Asia.
Through CLP India it is one of the largest foreign investors in the Indian power sector and is responsible for developing CLP’s presence in that market. It is responsible for the GPEC gas-fired power plant in Gujarat, which is one of the largest independent power projects (IPPs) to have been set up in India. It is currently developing a 100.8MW wind farm in Gujarat. Through its Roaring 40s joint venture, CLP is also developing a 50.4MW wind farm at Khandke in the state of Maharashtra.