April 27 (Bloomberg) -- CLP Holdings Ltd., Hong Kong’s biggest electricity producer, will build a solar farm in Thailand and set up three wind projects in India as the utility turns to clean energy sources to generate power.
The power producer is “close to” setting up a 55-megawatt solar project north of Bangkok with a venture partner, Chief Executive Officer Andrew Brandler said at a media briefing after the company’s annual general meeting today, without elaborating.
CLP produces about 10 percent of its electricity from clean energy, including nuclear power, and wants 20 percent to be generated by non-fossil fuels by 2020. Among its renewable energy investments are plans for a wind farm offshore Hong Kong, estimated to cost HK$7 billion ($900 million).
The utility will set up three wind-power plants in India in the next few months, Chairman Michael Kadoorie said at the briefing, without giving more details.
In Hong Kong, CLP will increase the number of charging stations for electric cars that it operates by 11 this year to 21, the company said in a statement today.
The shares have risen 8.1 percent in Hong Kong trading this year, compared with the 2.3 percent drop in the benchmark Hang Seng Index. CLP fell 0.4 percent to HK$56.70 at the midday break.
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