Hang Lung Properties transitions mainland Chinese commercial portfolio to renewable power
Property developer Hang Lung Properties secured contracts to supply 100 percent renewable energy across its commercial portfolio in mainland China
Hong Kong-based property developer Hang Lung Properties has announced plans to power all its commercial assets in the Chinese mainland with renewable energy by October 1, 2026. This marks a significant milestone in the company's five-year initiative to achieve 100% renewable electricity coverage across its 2.65 million square meter portfolio.
The first Hang Lung property to transition to renewable power was Spring City 66 in Kunming in December 2021, making it the first commercial complex in Yunnan Province to achieve this feat. Subsequent properties followed suit, with Riverside 66 in Tianjin completing the transition on October 1, 2026, bringing the total number of properties powered by renewable energy to 11.
Hang Lung's approach involves procuring renewable electricity, which includes both the actual electricity and its associated green attributes, from wind and solar generation sources. This whole-building procurement strategy covers both the company's own operations and the energy needs of its tenants, which include luxury brands, banks, and multinational corporations.
Achieving this milestone required navigating a rapidly evolving renewable electricity market under tight timelines. The company's success sets a market-leading example in multiple Chinese provinces, including Yunnan, Shandong, Liaoning, and Hubei. Hang Lung's commitment to renewable energy aligns with China's dual carbon goals and supports tenants' own sustainability targets.
In a statement, Hang Lung's Chair Adriel Chan emphasized the importance of translating ambition into action, stating that the achievement creates value for the business, tenants, and the environment. LVMH Group's Hélène Valade praised the partnership between Hang Lung and its tenants, highlighting the positive impact on their respective sustainability programs.
Ma Jun, Director of the Institute of Public & Environmental Affairs, commended Hang Lung's efforts, noting that the company's approach can serve as an inspiration for others to adopt renewable energy and contribute to sector-wide decarbonization.
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