SM Prime Holdings Inc. (SM Prime) has joined forces with TotalEnergies for the deployment of a two megawatt peak (MWp) solar photovoltaic (PV) system on its rooftop in Pasay City to accelerate its path to achieving net-zero emissions by 2040.
Philippine Star reported that the MOA Square in the Mall of Asia Complex would house around 3,672 PV panels, which are expected to generate 3,000 megawatt-hours (MWh) of energy yearly and ease the carbon footprint of the building by around 1,430 tons of carbon dioxide (CO2) every year.
SM Prime chief finance officer John Nai Peng Ong said that the commercial center is taking measures to support the Department of Energy’s (DOE) target of 35% renewable energy (RE) by 2030.
This is not SM Prime’s first thrust into renewable energy. In 2022, the company secured a long-term agreement with AboitizPower for clean energy supply. Under this deal, AboitizPower will deliver reliable and responsibly sourced energy from the Tiwi-MakBan Geothermal Power Plants and PV Sinag’s Power Plants, which are operated and managed by its subsidiary, Aboitiz Renewables Inc.
The year after, SM Prime entered into a memorandum of agreement (MOA) with Citicore Renewable Energy Company (CREC), committing to source 90 megawatts (MW) from CREC’s upcoming Lumbangan Solar Power Plant in Tuy, Batangas.
Currently, SM Prime is sourcing around 50% of its electricity from RE.
