Hang Lung Achieves Sustainability Milestone: 80% of Mainland Portfolio Powered by Renewable Energy
HONG KONG SAR & SHANGHAI, CHINA - Media OutReach Newswire - 27 May 2025 - Hang Lung Properties Limited (SEHK stock code: 00101) (the 'Company' or 'Hang Lung') announced that the Company has increased its portfolio of renewable energy-powered properties in mainland China from 50% to 80% of its operating properties. The three additional properties—Forum 66 and Palace 66 in Shenyang, and Olympia 66 in Dalian—have transitioned to renewable energy sources since May 1, 2025, and are the first commercial developments in Liaoning Province to achieve this milestone.
Forum 66, Palace 66, and Olympia 66 are the first commercial developments in Liaoning Province to adopt green energy
'This transaction marks a major step towards realizing Hang Lung's 2050 net zero goal . With these latest pioneering renewable energy projects in mainland China, we are proud to continue leading this journey,' said Mr. Adriel Chan, Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee. 'We will continue to pioneer renewable energy initiatives, support the sustainability targets of our partners, and inspire others to accelerate their decarbonization efforts in line with China's dual carbon ambitions.'
The three properties have secured renewable energy from wind and solar sources through power purchase agreements aligned with China's green energy policy framework. By the end of 2025, Hang Lung is expected to purchase a total of approximately 320 million kWh of renewable energy across eight properties. This achievement surpasses the Company's sustainability target of 25% renewable energy for its mainland China portfolio in 2025. Hang Lung's clear demand signal for renewable energy in multiple cities is helping to accelerate the energy transition, empower tenants to advance their own sustainability commitments with direct access to renewable energy, and foster a greener retail and commercial ecosystem in China.
At Forum 66 in Shenyang, the Green Power Purchase Agreement was signed by (from left) Mr. Arthur Wong, Deputy General Manager – Mainland Business Operation of Hang Lung Properties, Mr. John Haffner, Deputy Director – Sustainability of Hang Lung Properties, Mr. Jinzeng Yu, Deputy General Manager of Northeast Region of China Resources Power, and Ms. Airong Yang, General Manager of China Resources (Liaoning) Electric Power Sales Co., Ltd
'As a leading luxury hotel, we work to ingrain sustainability in all aspects of our operations,' said Mr. Erich Kaiserseder, General Manager, Conrad Shenyang. 'It is great news for us and for our guests that Hang Lung has procured renewable energy for its Liaoning properties, including all the electricity for our hotel in Forum 66.'
'Tenants and landlords need to work together to advance common sustainability goals,' said Ms. Xuan Liu, Director, Dacheng Shenyang Law Firm. 'We are very happy that our office space at Forum 66 is now powered by green electricity thanks to Hang Lung's initiative in the market.'
Located in Shenyang, capital of Liaoning Province, Forum 66 is a mixed-use development comprising a world-class shopping mall, Grade A office tower and the 5-star Conrad Shenyang on Qingnian Da Jie, also known as the 'Golden Corridor', while Palace 66 caters to young and trendy consumers as an aspirational retail and lifestyle destination. Olympia 66 in Dalian is the epicentre of luxury retail and lifestyle destination.
Appendix:
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.
May 2025: Forum 66 and Palace 66 in Shenyang, as well as Olympia 66 in Dalian, are the first commercial complexes in Liaoning Province to be powered by renewable energy. Altogether, eight out of ten of Hang Lung's Mainland operating properties are now powered by renewable energy.*
*Green power terms under power purchase agreements for the entire property (covering both landlord and tenant consumption) since May 1, 2025.
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%
Forum 66, Shenyang
95%
5%
Palace 66, Shenyang
95%
5%
Olympia 66, Dalian
95%
5%
Hashtag: #HangLung #Forum66 #Palace66 #Olympia66
The issuer is solely responsible for the content of this announcement.
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