SM INVESTMENTS Corp., the parent company of the SM Group, is ramping up its renewable energy initiatives to support long-term growth and sustainability, with geothermal, solar and other clean power projects integrated across its businesses.
At its first-half briefing, president and chief executive officer Frederic C. DyBuncio highlighted the role of Philippine Geothermal Production Co. (PGPC) in driving the group’s energy push. PGPC operates the Tiwi (Albay) and MakBan (Laguna-Batangas) steam fields and is developing five new concession areas, including Mt. Malinao, where three wells have been drilled.
“We are focused on geothermal energy production, which is baseload and runs 24/7. With a new rig in place, we are building capacity to develop more sites,” DyBuncio said.
Other SM units are also expanding clean energy use. Carmen Copper Corp. recently launched the country’s first megawatt-scale floating solar plant in Toledo City, Cebu, generating 4.99 megawatts (MW), or about 10 percent of its power needs. SM Prime has installed rooftop solar systems in 48 malls with 77.6 MW combined capacity, including the nation’s largest at SM City Fairview.
By 2025, it targets 100 MW across 63 malls. SM Retail and 2GO have likewise shifted parts of their operations to renewable sources, while BDO has financed 63 clean energy projects worth P1 trillion.
“We’re only given one planet,” DyBuncio said. “At SM, we see renewable energy as both a responsibility and an opportunity to support the country’s transition while building resilient businesses and communities.” / KOC