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The Policy Address 2024 of Hong Kong was delivered by the Chief Executive on 16 October 2024 (the “Policy Address”). Among a series of reforms aimed at rejuvenating the city’s economy and enhancing residents’ livelihood, the Government has introduced initiatives to address housing affordability issues, promoting integrated development of culture, sports, and tourism, and building Hong Kong into an international hub for high-calibre talents. We will focus on these keynote policies from the Policy Address and set out in this article a list of key highlights involving the real estate and infrastructure sectors.

This week we cover certain selected areas of the Employment Rights Bill, published on 10 October 2024.  It is Labour’s flagship employment legislation.

As covered briefly in our previous article, the “route to market” / offtake arrangements/ revenue contracts are perhaps the key difference between battery energy storage systems (BESS) projects and other project-financed renewable energy projects; often there is material exposure to market (or ‘merchant’) risk and this makes them arguably more challenging to project-finance for lenders.  In this article, we discuss the nature of revenue in a (standalone) BESS project, how electricity storage providers “stack” these revenues and we briefly introduce the contractual structures that are used in connection with the route to market for BESS projects (which we will cover in greater detail in our next article).