SM Prime Holdings, Inc. is reinforcing its commitment to sustainability and renewable energy adoption by installing solar panels at SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas, in partnership with TeaM (Philippines) Energy Corporation (TPEC). The project, which will cover over 33,000 square meters of rooftop space, is expected to be operational by the end of 2025, significantly contributing to SM Prime’s net zero emissions goal.
With a combined capacity of 7.5 megawatt peak (MWp), the solar installations are projected to generate approximately 11,000 megawatt-hours (MWh) of clean energy annually, supplying 16% of each mall’s electricity needs. This move, according to the company, is also expected to reduce 4,400 metric tons of CO₂ emissions per year.
SM Prime, one of Southeast Asia’s leading integrated property developer, has been among the first companies in the Philippines to integrate renewable energy solutions into its operations, investing in solar power to support its net zero commitment.
The Sy-led firm already has 44 of its 87 malls nationwide equipped with solar photovoltaic (PV) systems, which brings its total solar capacity to more than 50 MWp.
“Integrating renewable energy sources into our operations is part of our long-term strategy to achieve our net zero goals, enhance operational efficiency, and contribute to a more sustainable business,” said SM Prime President Jeffrey C. Lim.
By expanding its solar energy capacity, SM Prime is lowering its dependence on traditional energy sources, contributing to grid stability, and ensuring that its operations align with global sustainability and environmental responsibility standards.
TeaM (Philippines) Energy Corporation, the retail subsidiary of TeaM Energy Corporation, will handle the engineering, procurement, and construction of the project, ensuring high-efficiency solar power generation. The installation will utilize bifacial solar panels, a cutting-edge technology that captures sunlight from both sides, maximizing energy output.
According to TPEC President Tristan Taghoy, these solar panels have one of the lowest degradation rates in the market at 0.4% annually, ensuring long-term reliability and efficiency for the entire 20-year contract period.
“We are committed to delivering high-performance solar solutions that meet international engineering standards. Through regular monitoring and preventive maintenance, we will ensure these systems operate at peak efficiency,” Taghoy stated.
Taghoy emphasized that working SM Prime on this initiative is a testament to their shared commitment to sustainable energy and environmental responsibility. It also reflects the growing trend of private sector investment in solar energy, as businesses seek to enhance energy efficiency, turn to clean energy initiatives, and reduce carbon footprints in response to climate change challenges.
How do you feel about SM Prime’s increasing investment in solar energy? Should more businesses follow suit in adopting renewable energy solutions for commercial properties? Share your thoughts in the comments below, and follow Power Philippines for the latest updates on renewable energy and sustainability initiatives!
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