CLP Power Hong Kong Limited has signed a memorandum of understanding with ESR HK Limited.
The companies plan to develop 'sustainable' data centers and logistics centers in Hong Kong and the Greater Bay Area.
CLP Power Hong Kong and CLPe Group are wholly-owned subsidiaries of CLP Holdings Limited, one of the two main electricity power generation companies in Hong Kong.
ESR is the Asia Pacific region's largest real asset manager and the third largest listed real estate investment manager globally, with $140.2 billion in total assets under management.
CLP Power will provide a variety of energy management solutions for ESR, including energy audits, Eco Building Fund and Electrical Equipment Upgrade Scheme, to improve the energy and carbon efficiency of its data center and logistics projects in Hong Kong. ESR will also participate in CLP Renewable Energy Certificate Scheme.
"CLP Power is delighted to work with ESR and provide one-stop energy efficiency solutions and support for its development projects to reduce overall carbon emissions, supporting Hong Kong to achieve carbon neutrality by 2050," CLP Power MD T K Chiang said.
"CLP Power will continue to work with our business customers to save energy and reduce carbon emissions."
In a joint statement, Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR, added: "As APAC's largest real asset manager powered by the New Economy, ESR has established an unrivaled track record and network of New Economy real estate in China and across the APAC region. Coupled with CLP's energy vision, experience, and competence, we strive to provide a network of agile, scalable, and green digital infrastructure that interconnects businesses and individuals in the digital economy, supports our customers' growth in scale and reach, and creates sustainable value for different stakeholders."
ESR made its first data center purchase in Hong Kong last year, acquiring a building in Kwai Chung to convert it into a 40MW facility. The former cold storage site will be turned into a 15-story data center.