Energy
CLP to Focus Capital on Hong Kong and China in Clean Power Push
- Utility seeks to decarbonize its core markets, CEO Chiang says
- Company planning to phase out coal consumption by 2040
CLP Holdings Ltd. plans to focus on investing in Hong Kong and mainland China, while projects in other areas will need to be self-funded as the utility seeks a greener power generating portfolio.
“We have a quite significant capital requirement and we want to focus on our core markets in Hong Kong and China to help decarbonize these markets,” Chief Executive Officer T.K. Chiang said in an interview with Bloomberg TV. “In other markets, we’ll basically carry out a self-funded approach.”