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Richmond Mercurio - The Philippine Star
February 13, 2025 | 12:00am
MANILA, Philippines — SM Prime Holdings Inc., the integrated property developer of the Sy family, is powering four more malls with solar energy this year as part of the company’s sustainability strategy.
SM Prime said it has signed an agreement with TeaM (Philippines) Energy Corp. (TPEC) for the installation of over 33,000 square meters of solar panels on the rooftops of four SM malls.
The malls to be covered by the solar installations are SM City Lucena, SM City Sta. Mesa, SM City Tarlac and SM City East Ortigas.
Construction is targeted to commence in March, with operations expected to begin by the end of the year.
With a combined capacity of roughly 7.5-megawatt peak (MWp), the solar installations are expected to generate approximately 11,000 megawatt-hours of clean energy annually.
SM Prime said the solar panels would significantly reduce its reliance on traditional power sources as the project will supply about 16 percent of each of the four malls’ electricity needs.
Of the company’s 87 malls in the Philippines, 44 are currently equipped with solar photovoltaic systems.
The existing installations have a total capacity of more than 50-MWp, equivalent to taking thousands of vehicles off the road annually.
SM Prime is among the first companies in the Philippines to commit to net zero emissions and invest in renewable energy to meet that target.
“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,” SM Prime president Jeffrey Lim said.
SM Prime said that TPEC, the retail subsidiary of TeaM Energy Corp., would use high-quality bifacial solar panels to ensure the long-term efficiency and reliability of the solar power systems.
The panels, which have one of the lowest degradation rates in the market, are designed to capture sunlight from both sides, it said.
The new solar installations are likewise expected to contribute to a cleaner environment by reducing approximately 4,400 metric tons of carbon dioxide emissions annually.
“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 for the entire 20-year contract period,” TPEC president Tristan Taghoy said.
ewise expected to contribute to a cleaner environment by reducing approximately 4,400 metric tons of carbon dioxide emissions annually.
“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 for the entire 20-year contract period,” TPEC president Tristan Taghoy said.
