Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT, stock code: 823), announced today the completion of its solar panel installation programme spanning 53 properties with 58 solar power systems that exceed a total installed capacity of 4,500 kilowatt-peak (kWp). Link is now one of the largest private solar power system operators in Hong Kong.

The solar panels are expected to generate approximately 4.2 million kWh of electricity annually, equivalent to the consumption of 1,273 three-member households per year.

After solar panels were installed at Mei Lam Commercial Centre in Sha Tin last month, the whole programme successfully concluded with nearly 8,500 solar panels installed on the rooftops of 53 Link properties. Among them, Fu Tung Plaza in Tung Chung houses the single largest system in the portfolio, featuring 950 solar panels with an installed capacity of 530 kWp, expected to generate 564,000 kWh of electricity annually.

Link has invested around $78 million in the solar energy generation project, and under the Feed-in Tariff Scheme based on the current total installed capacity, the estimated return-on-investment is 19.6%. The renewable energy generated by Link’s solar power systems accounts for 3% of Link’s total power usage each year in Hong Kong. 

George Hongchoy, Link’s Group Chief Executive Officer, said: “Link is taking a crucial step toward a more sustainable future through the installation of one of our city’s largest private solar energy generation projects. The initiative, which has an expected return-on-investment of almost 20%, is also helping to enhance our operational efficiency. We are proud to play a leading role in driving renewable energy adoption in Hong Kong as part of our wider commitment to sustainable development and the long-term clean energy transition of our home city.”

Link has demonstrated full support for the Hong Kong government’s renewable energy policy through participation in the Feed-in Tariff Scheme since financial year 2019/20. The scheme is an initiative to encourage wider adoption of renewable energy in Hong Kong. Under the scheme, renewable energy generated by the solar panels installed at Link’s premises can be resold to power companies at a rate higher than the normal electricity tariff rate.

During the installation, Link’s team implemented floor loading studies to ensure rooftop structural safety with waterproofing review and coordinated with different stakeholders to minimise impact to surrounding communities.

Building on this success, Link is preparing for the next phase of this solar panel initiative by utilising light counter-weighted or flexible solar PV modules on the rooftops of 19 Link properties, further expanding clean energy adoption across its portfolio. Upon completion of the second phase, total installed capacity for the programme will reach around 6,900 kWp with more than 12,000 solar panels installed at 58 properties. Future installations will enhance renewable energy generation, supporting Hong Kong’s carbon neutrality goals and reinforcing Link’s market leadership in sustainable asset management.

High-definition photos of the solar panels at Mei Lam Commercial Centre and Fu Tung Plaza can be downloaded here.

- Ends -

About Link Asset Management Limited

Link Asset Management Limited (Link) is a leading, independent, and fully integrated real estate investor and manager focusing on the APAC region. It manages Link Real Estate Investment Trust (Link REIT, Hong Kong stock code: 823), the largest REIT in Asia, and its real estate investment portfolio. Link also aims to leverage its investment management capabilities to serve as a trusted investment manager to capital partners through its business line, Link Real Estate Partners. 

Building on its strong track record over almost two decades, Link targets to deliver resilient returns and growth to its unitholders. Link offers a “REIT plus” investment case through its strategic focus on diversifying the Link REIT Portfolio across geographies and asset classes in APAC and expanding its investment management business.

Link aspires to be the trusted partner in APAC real estate sector for unitholders, capital partners, tenants, and the wider communities it serves.

For more information about Link, please visit https://www.laml.com/en/.