SM Investments Expands Commitment to Renewable Energy Initiatives

SM Investments Corporation (SM Investments), the leading Philippine firm overseeing the SM group, has prominently reaffirmed its commitment to renewable energy. This initiative is seen as a key factor for long-term growth, aimed at diversifying their clean power sources to bolster their business operations and positively impact the communities they serve.

During a recent briefing on the company’s first-half results, President and CEO Frederic C. DyBuncio emphasized the focus on renewable energy initiatives spearheaded by their energy subsidiary, Philippine Geothermal Production Company, Inc. (PGPC). DyBuncio stated, "We are focused on geothermal energy production, which is baseload and runs 24/7. Our production is performing well, and with the introduction of a new rig, we are poised to increase our capacity and explore additional sites."

PGPC currently operates geothermal steam fields located in Tiwi, Albay, as well as in MakBan, which spans Laguna and Batangas provinces. Furthermore, the company is developing five new concession areas, including the promising Mt. Malinao in Albay, where initial drilling of three wells has been successfully completed.

SM's dedication to clean energy extends beyond geothermal sources. Carmen Copper Corporation, a subsidiary of Atlas Consolidated Mining and Development Corp., has recently launched the Philippines' first megawatt-scale floating solar facility in Toledo City, Cebu. The facility spans three hectares over the Malubog Reservoir and produces 4.99 MW of renewable power, which meets approximately 10% of the energy demand of the copper mining operation.

Additionally, the group is exploring opportunities in wind energy, reflecting its holistic approach to sustainable energy solutions.

As part of its broader endeavors, SM Prime, the integrated real estate division of the SM group, has made significant strides in solar energy adoption. They have successfully installed solar photovoltaic systems in 48 malls, accumulating a combined capacity of 77.6 MW. Their latest achievement includes the country's largest rooftop solar PV system at SM City Fairview located in Quezon City, which covers an area of 4.3 hectares and generates an annual output of 5,960 MWh, accounting for 11% of the mall's power consumption. Plans are underway for SM Prime to scale up to 100 MW capacity across 63 malls by the end of 2025.

On the retail front, SM Retail is also making progress in the adoption of clean energy. For instance, the SM Store in Cubao is now sourcing 3.8% of its energy needs from rooftop solar panels, while the SM Retail Headquarters in Pasay City has been operating completely on renewable energy since November 2024.

The logistics sector is also being transformed, with 2GO Group, Inc. opting for renewable energy for its warehouses in Asinan and Elisco. At the Elisco facility, the company has integrated 42 electric forklifts into its operations, which are anticipated to reduce carbon emissions by 50 metric tons per year.

SM's commitment to sustainability is further strengthened by BDO Unibank, Inc., which has financed 63 renewable energy projects amounting to a total portfolio of PHP 1 trillion and installed capacity of 2,679 MW.

Frederic C. DyBuncio encapsulated the company’s ethos by saying, "We’re only given one planet. At SM, we see renewable energy as both a responsibility and an opportunity to support the country's energy transition, while simultaneously building more resilient and sustainable businesses and communities."

About SM Investments Corporation

SM Investments Corporation is a premier Philippine firm actively involved in various sectors, including retail, banking, and real estate. It leverages high-growth opportunities that arise in the emerging Philippine economy. For further details, you can visit SM Investments Corporation's official website.