Hong Kong is likely to have wind turbines dotted around in between its 263 islands in the coming years.

CLP Holdings, one of the territory’s two power utilities, has said it it is revisiting offshore wind technology, and may submit proposals for an offshore wind farm to the local government for their next five-year development plan starting 2023.

“It is much more economic now to build offshore wind than it was 10 years ago,” commented Richard Lancaster, CLP’s CEO, in a media briefing last week. The last time CLP looked at offshore wind development – 11 years ago – it cost about $134 per megawatt-hour, a figure that today stands at $89, according to BloombergNEF data.

Moreover, with so many wind farm developments going on today in the mainland, as well as Taiwan and South Korea, there is no shortage of available hardware including ships to build a local windfarm, Lancaster pointed out.

Hong Kong has set a goal to achieve net-zero emissions by 2050.