Five out of Hang Lung’s Ten Mainland Operating Properties are Powered by Renewable Energy

Green power purchase agreements cover properties in Shanghai, Wuxi, Kunming and Jinan
Investor News | Apr 8, 2024

We are pleased to announce that half of our operating properties in Mainland have been powered by renewable energy through power purchase agreements since April 1, 2024, solidifying its market leadership in sustainable real estate practices.* 

The move represents a remarkable milestone in Hang Lung's sustainability journey, and means that by the end of 2024 Hang Lung will go well beyond its 2025 sustainability target of 25% renewable energy for its mainland China portfolio. The achievement includes five properties in four cities: Plaza 66 and Grand Gateway 66 in Shanghai, Center 66 in Wuxi, Spring City 66 in Kunming, and Parc 66 in Jinan. 

These innovative transactions – which draw on wind and solar power –  support China’s goals of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, and demonstrate Hang Lung’s commitment to sustainability leadership. They also align with the Company's commitment to achieving net-zero greenhouse gas emissions across its value chain by 2050, in accordance with climate science and its Science Based Target initiative (SBTi) target.

Hang Lung’s Renewable Energy Chronology:

  • December 2021: Spring City 66 in Kunming is Hang Lung’s first property and the first commercial complex in Yunnan Province to be powered by renewable energy

  • January 2023: Parc 66 in Jinan is the first commercial property in Jinan and Shandong Province to be powered by renewable energy

  • April 2024: Plaza 66 and Grand Gateway 66 in Shanghai, and Center 66 in Wuxi build on the successes in Kunming and Jinan and are also powered by renewable energy. Altogether, five out of ten of Hang Lung’s Mainland operating properties are powered by renewable energy*

*Green power terms under power purchase agreements for the entire property (covering both landlord and tenant consumption) from April 1 to December 31, 2024



Property

Minimum Green Electricity Under Bundled Power Purchase Agreement

Maximum Unbundled Green Electricity Certificate

Spring City 66, Kunming

100% 

0% 

Parc 66, Jinan

100%

0%

Center 66, Wuxi

98% 

2%

Grand Gateway 66, Shanghai 

95%

5%

Plaza 66, Shanghai

95%

5%

Plaza 66, Shanghai
Plaza 66, Shanghai has built its unique position as the “HOME TO LUXURY”, accommodates more than 100 prestigious international luxury brands, bringing customers a more diverse offering in a highly refined shopping environment
Grand Gateway 66, Shanghai
Grand Gateway 66, Shanghai boasts a spectrum of global luxury brands, many of which have made their China debuts, successfully establishing its position as the “Gateway to Inspiration”
Center 66, Wuxi
Located in the most prosperous commercial district in downtown Wuxi, Center 66 is the city’s center of luxury
Spring City 66, Kunming
Designed to “Bring the Best to Kunming; Showcase the Best of Kunming to the World”, Spring City 66 is Hang Lung’s first development project in Southwest China
Parc 66, Jinan
Situated in Jinan’s commercial center, Parc 66 is one of the city’s largest and most prestigious malls
Plaza 66, Shanghai
Grand Gateway 66, Shanghai
Center 66, Wuxi
Spring City 66, Kunming
Parc 66, Jinan