SM Investments Corporation is doubling down on renewable energy to strengthen its long-term growth and sustainability goals. At its first-half 2025 results briefing, President and CEO Frederic C. DyBuncio highlighted SM clean energy as both a business opportunity and a responsibility to communities.
Through Philippine Geothermal Production Company, Inc. (PGPC), SM is expanding geothermal power production. PGPC operates the Tiwi and MakBan steam fields and is developing five new concession areas, including Mt. Malinao in Albay.
Carmen Copper Corporation has launched the country’s first megawatt-scale floating solar project in Toledo City, Cebu. Spanning three hectares, it generates 4.99 MW, supplying about 10% of the mine’s energy needs.
SM Prime has equipped 48 malls with solar systems totaling 77.6 MW. Its latest project, a rooftop installation at SM City Fairview, is the largest in the Philippines and covers 11% of the mall’s power use. By the end of 2025, SM Prime aims to power 63 malls with 100 MW.
SM Retail is also transitioning. Its Cubao store now sources 3.8% of power from solar, while its headquarters in Pasay has run fully on renewable energy since November 2024.
In logistics, 2GO has converted warehouses in Asinan and Elisco to renewable energy. Elisco also uses 42 electric forklifts, reducing 50 metric tons of carbon emissions yearly. These steps reinforce the broader SM clean energy vision across industries.
BDO Unibank, SM’s banking arm, supports these initiatives with financing. It has funded 63 renewable projects worth PHP1 trillion, providing 2,679 MW in capacity.
DyBuncio stressed that renewable energy is central to SM’s strategy: “We’re only given one planet. At SM, we see renewable energy as both a responsibility and an opportunity.”
