Hong Kong Science and Technology Parks Corporation wins Real Estate Asia Award for energy technology initiative

The company's innovative initiatives were recognised for creating a sustainable green tech ecosystem within its facilities.

The Hong Kong Science and Technology Parks Corporation (HKSTP) has clinched a prestigious victory in the Energy Technology Initiative of the Year - Hong Kong category at the Real Estate Asia Awards 2024, reaffirming its pivotal role in advancing innovation and sustainability in the region.

HKSTP is committed to building up Hong Kong as an international innovation and technology hub, with a steadfast commitment to fostering green tech and green finance initiatives.

At the heart of HKSTP's mission lies its dedication to providing state-of-the-art facilities and services tailored to the needs of the technology, research, and development sectors. From the inception of the Science Park (Pak Shek Kok) to the establishment of InnoCentre and three InnoParks, HKSTP has consistently strived to create an environment conducive to R&D, innovation, and collaboration.

One of HKSTP's flagship initiatives is its focus on driving transformative energy technologies to establish a sustainable green tech ecosystem. Through strategic partnerships and innovation, HKSTP is spearheading projects aimed at achieving the Net-Zero Standard by the Science Based Targets initiative (SBTi) within its facilities.

Major undertakings in 2023/2024 include the replacement of chiller equipment in the District Cooling System (DCS) with ultra-low GWP refrigerants, the integration of AI-controlled chillers, and the retro-commissioning of the entire DCS with advanced control valves to optimise water balancing. These efforts are projected to yield a minimum 40% reduction in its energy consumption compared to 2020 levels.

Moreover, HKSTP is maximising renewable energy generation by leveraging building rooftops to install over 4,600 solar panels, generating approximately 2,800 MWh per annum. Additionally, the installation of more than 800 EV chargers across the car parks managed by the Corporate encourages zero-emission transportation, contributing to improved air quality and reduced greenhouse gas emissions in Hong Kong.

“Without the joining effort with our tenants, it’s hard to achieve net zero by 2045. Hence, HKSTP has updated the green lease to enforce energy reduction and reduce waste from the tenants’ consumption since Q3 2023 to cut down the Scope 3 carbon emissions in the Science Parks,” said Mr CF Ma, Director of The Hong Kong Science and Technology Parks Corporation.

HKSTP has also adopted passive energy-saving technologies, such as sustainable painting materials on canopy rooftops to mitigate heat gain, underscoring HKSTP's holistic approach to sustainability.

Looking ahead, HKSTP remains steadfast in its commitment to carbon neutrality by 2045, leveraging energy-efficient practices, sustainable construction methodologies, and eco-friendly environments.

By leading by example and inspiring the wider community to embrace sustainable development, HKSTP is charting a course towards a cleaner, more resilient energy future amidst the challenges of climate change. “With climate change challenges and the need for sustainable development, the energy technologies at Hong Kong Science Park offer inspiration, paving the way towards a cleaner and more resilient energy future,” Ma said.

The Real Estate Asia Awards recognises exceptional achievements in the dynamic real estate sector across Asia. The awards programme honours outstanding projects, developments, and companies that set new standards of excellence in the industry.

The Real Estate Asia Awards is presented by Real Estate Asia Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's exceptional projects or initiatives in the Real Estate industry, please contact Julie Anne Nuñez at [email protected].