, Hong Kong

CLP Power adjusts rates after HK introduced new FiT Scheme   

The new rates took effect on 27 April.

CLP Power Hong Kong Limited reported new rates will be imposed under its Renewable Energy Feed-in Tariff (FiT) scheme after the government introduced a net FiT scheme.

Starting 27 April, the FiT rate for renewable energy system with generation capacity of up to 10 kilowatts (kW) will be HK$4, whilst a HK$3 and HK$2.5 rate will be imposed on those with more than 10kW to 200kW and more than 200kW to 1 megawatt (MW).

In addition, CLP Power announced that the price for Renewable Energy Certificates worth HK$0.5 per unit will be maintained.

“CLP Power launched the FiT scheme with the aim of encouraging the development of Renewable Energy by allowing customers to connect RE systems to the grid and sell the electricity generated back to CLP Power at favourable FiT rates, which are higher than the prevailing tariffs,” the company said.

It noted the FiT scheme has received a very positive response since its launch.

In the first quarter of 2022 alone, the company has received more than 19,600 applications, of which about 91% were approved or connected to the grid. This represented around 287MW of capacity.

Amongst all applications, 77.2% came from village houses; 4.7% from commercial and industrial buildings, 5.8% from residential buildings and 2.8% from schools.

The remaining 9.5% were from recreational sites, construction sites as well as CLP Power Hong Kong Limited 2 warehouses etc.

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