HKUST and a consortium of French companies including Schneider Electric and Veolia have signed a works contract to retrofit the Lee Shau Kee Business Building on campus. The project uses an Energy Performance Contract model where the companies finance the upfront costs and recover them over 15 years through verified energy savings. An AI system will adjust cooling based on real time classroom occupancy to cut wasted energy. The retrofit is expected to be completed within 24 months. A second phase MOU with Bouygues-Dragages and Veolia aims to extend the approach to student residences and other campus buildings. The partners will also explore innovative financing mechanisms to scale retrofitting across Hong Kong. With over 90 percent of the city's existing buildings expected to still be standing in 2050, this model could unlock a large market for low-carbon retrofits in a dense urban environment.
