SM Prime widens the landscape in renewable energy

MANILA, Philippine — As part of its net-zero commitment by 2040, one of Asia’s leading real estate and property developers, SM Prime Holdings Inc. (SM Prime), partnered with global integrated energy company TotalEnergies for the installation of a 2 megawatt-peak (MWp) Solar Photovoltaic (PV) System Rooftop project in Pasay City.

The partnership venture aligns with SM Prime’s efforts in expanding its renewable energy portfolio and affirms TotalEnergies’ commitment to advancing renewable energy solutions in various urban settings.

Designed with a power yield of 3,000 megawatt-hour (MWh) of electricity annually, the solar partnership project has over 3,672 PV panels installed and is expected to provide huge cost savings for SM Prime.

Located at the MOA Square in the Mall of Asia Complex, the solar installations are expected to reduce the building’s carbon footprint by about 1,430 tons of carbon dioxide (CO2) emissions annually.

"SM Prime is proud to work alongside TotalEnergies on this project. This partnership is our commitment to sustainability and achieving Net Zero by 2040. We are also taking a proactive stance in supporting the Department of Energy’s (DOE) target of reaching 35% renewable energy by 2030. Together, we’re driving meaningful change towards a more environmentally conscious future," John Nai Peng Ong, SM Prime chief finance officer, said.

“We are thrilled to announce the successful deployment of solar rooftop installations at the Mall of Asia in the Philippines, marking a significant achievement in both environmental and economic sustainability for SM Prime,” Elodie Renaud, managing director of TotalEnergies Renewables Distributed Generation Asia, said.

For the past few years, SM Prime continues to grow its partnerships with key clean energy players, leveraging its relationships and earned experiences to drive its environmental stewardship campaign. Capitalizing on these partnerships has provided for SM Prime huge economic, environmental and social dividends.
In 2022, SM Prime secured a long-term deal with AboitizPower for its clean energy supply. Under the agreement, AboitizPower will provide reliable and responsibly-sourced energy from