NEFIN Supports LF Logistics to Achieve Carbon Neutrality

HONG KONG, CHINA -�Media OutReach - 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.

 

Please download the high resolution photo HERE.

About NEFIN Group

Founded by core
management team of DuPont Solar Business, legal expert and investment bankers,
NEFIN has collectively delivered over 180MW of utility-scale, commercial and
industrial rooftop solar systems all over the world. The group’s total
solutions not only offer comprehensive portfolio of high-performance products,
feasibility study, system design, engineering and asset management, but also provide flexible financing solutions to partners who opt for
ZERO investment.

 

Please refer to NEFIN’s website www.nefinco.com for more information.

About LF Logistics

LF Logistics is a leading logistics services
provider offering both in-country logistics services across Asia and freight
management services globally. Headquartered in Hong Kong and a member company
of Li & Fung, LF Logistics is the supply chain partner of choice and
specializes in the Footwear, Apparel & Accessories, Fast-moving Consumer
Goods, Food and Beverage, Beauty & Wellness, Consumer Electronics and
Healthcare verticals. Our network spans Greater China, ASEAN, Japan, Korea, the
Middle East, and the Indian subcontinent and provides us with a strong “home
court advantage” in these culturally diverse and economically active regions.
LF Logistics manages 26 million square feet of space and delivers over 500 thousand
of TEUs each year.