SM Investments Corporation (SM Investments) is advancing with several renewable energy projects across its portfolio as part of its commitment to support the country’s energy transition and strengthen long-term business resilience.

At the company’s first-half results briefing, President and CEO Frederic C. DyBuncio highlighted the importance of renewable energy as both a responsibility and a growth driver. “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 building more resilient and sustainable businesses and communities,” he said.

SM’s energy arm, Philippine Geothermal Production Company, Inc. (PGPC), is expanding geothermal output beyond its Tiwi and MakBan fields. The company is developing five new concession areas, including Mt. Malinao in Albay, where three wells have already been drilled.

The group is also broadening its renewable energy mix. Carmen Copper Corporation, a subsidiary of Atlas Consolidated Mining and Development Corp., recently commissioned the country’s first megawatt-scale floating solar facility in Toledo City, Cebu. Covering three hectares with 8,540 panels, the project generates 4.99 MW, meeting 10% of the mine’s power needs and marking a model for future developments.

In the property sector, SM Prime Holdings is scaling up solar rooftop installations across its malls. Currently, 48 malls host solar PV systems with a combined 77.6 MW capacity. Its latest installation at SM City Fairview is the country’s largest rooftop solar facility, producing 5,960 MWh annually—about 11% of the mall’s consumption. By the end of 2025, SM Prime targets installations across 63 malls, thus reaching a total of 100 MW capacity.

SM Retail has also begun expanding its clean energy use. The SM Store in Cubao now sources part of its power from rooftop solar, while its Pasay headquarters has been fully powered by renewable energy since November 2024.

In logistics, 2GO Group has converted its warehouses in Asinan and Elisco to renewable power. Its Elisco site deployed 42 electric forklifts, which eliminates 50 metric tons of carbon emissions each year.

Supporting these efforts, BDO Unibank, Inc. has financed 63 renewable energy projects with an installed capacity of 2,679 MW, a financing portfolio now valued at about PHP 1 trillion.

These progressing projects showcase SM’s push to integrate sustainability across its businesses, from geothermal and solar power to logistics and finance, with upcoming ventures poised to expand the group’s role in clean energy.

What other industries in the Philippines should accelerate renewable energy projects to match the pace set by companies like SM?

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