Hong Kong property tycoon Peter Lee champions clean energy investments to support charities

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The Towngas chairman and devout Buddhist hopes to create a more sustainable future through his family office investments

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Peter Lee Ka-kit, the elder son of real estate tycoon and Henderson Land Development’s majority owner Lee Shau-kee. Photo: Dickson Lee

Enoch Yiu

Published: 10:00am, 14 Oct 2024Updated: 3:32pm, 17 Oct 2024

Hong Kong business magnate Peter Lee Ka-kit believes climate change is the world’s most pressing challenge, and he is determined to keep funding clean energy and electricity start-ups to find sustainable solutions.

Lee, 61, is co-chairman and managing director of Henderson Land Development, one of Hong Kong’s leading developers founded by his father Lee Shau-kee, Hong Kong’s second-richest man with an estimated wealth of US$27.8 billion, according to Forbes.

Also chairman of gas distributor Hong Kong and China Gas Company (Towngas), the junior Lee has been supporting start-ups focusing on electricity, clean energy and other innovative ideas through Full Vision Capital, the family office he set up 10 years ago as an incubation platform. Today, those start-ups are collectively valued at over US$6.5 billion, according to the company.

“I will continue to invest in electricity and clean energy because it is what the world needs most now,” Lee said in an interview with the South China Morning Post in his office in IFC 2, the iconic skyscraper in Hong Kong’s Central business district.

Lee founded his family office Full Vision Capital 10 years ago to incubate electricity and clean energy related start-ups. Photo: Dickson Lee

“Globally, there is a shortage of electricity, as we will need multiple times more electricity supply than the current level to support the wide-scale use of artificial intelligence.”