NEFIN Supports LF Logistics to Achieve Carbon Neutrality

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CHINA – 12 December 2019 – Leading bespoke solar developer and asset management company NEFIN Solar Asset Limited (“NEFIN”), a member of the NEFIN Group, forms a 15-year strategic partnership with LF Logistics, a leading logistics services provider offering both in-country logistics services across Asia and freight management services globally, and a member company of Li & Fung.

This pioneer partnership involves participation in the Feed-in Tariff (FiT) Scheme spearheaded by China Light and Power Co Ltd. (CLP), with the mission to take lead in promoting the development of renewable energy and reducing carbon footprint in Hong Kong where sustainability is becoming a more and more important agenda.

LF Logistics has been proactively seeking opportunities to efficiently curb its energy and carbon emissions as part of its holistic sustainability strategy. Its collaboration with NEFIN marks a key solar project in Hong Kong by installing 336 pieces of cutting-edge shingled modules together with leading monitoring and control systems on the rooftop of Li Fung Centre, LF Logistics Corporate Headquarters.

As a Hong Kong Science and Technology Parks Corporation (HKSTP) incubated company, NEFIN has over a decade of industry-leading expertise in solar development. They are currently developing artificial intelligence solutions to monitor and manage renewable energy assets more efficiently and effectively.

“The system in LF Logistics has a very high fire safety standard. They can be shut down locally or remotely when fault is detected. The daily generation data are sent to the cloud in our monitoring center to perform data analytics. This allows NEFIN to conduct predictive maintenance. Our system is smart enough to inform us of potential issues in advance. Maintenance tasks are then scheduled in a way that are most productive and efficient for our staff at sites. This is a NEFIN 2.0 product which we researched and developed at HKSTP. This solution has already been implemented in several sites in Hong Kong,” said Mr. Glenn Lim, CEO of NEFIN.

Jay Lengel, Senior Vice President of Operations Excellence, LF Logistics said, “We are glad to partner with NEFIN on this pilot program, who is an expert in the solar development. The project echoes our ongoing initiatives in creating a positive environmental impact and further our sustainability performance across the supply chain. We look forward to expanding the solar coverage to the rest of our facilities in South-east Asia.”

NEFIN will invest, construct and manage the Photovoltaic (PV) system. Generated electricity will be sold to CLP to earn FiT income. NEFIN provides green subsidy to LF logistics in return for the rooftop space provided for the installation of solar panels. The bespoke solution is expertly engineered to produce an estimated 145,000 kWh per annum to the grid which will decrease approximately 95.8 tons of CO2 per year. This is equivalent to planting 4,165 trees a year. The collaboration not only efficiently manages the carbon footprint of LF Logistics but also exemplifies the feasibility of implementing energy-saving initiatives within a corporation.

Hong Kong strives to build a green city while embracing technological advancement. The implementation of FiT reduces the constraints on developing renewable energy projects and incentivizes sustainable development for businesses. The collaboration between LF Logistics and NEFIN sets a benchmark for other businesses to follow and achieve a carbon neutral Hong Kong.