Village Connect
SM Investments Corporation (SM Investments), the parent company of the SM Group, is accelerating its transition toward clean energy as part of its long-term growth strategy, with projects spanning geothermal, solar, wind, and green logistics. The move reflects SM’s broader goal of strengthening business resilience while contributing to the country’s energy transition.
During the company’s first-half results briefing, President and CEO Frederic C. DyBuncio emphasized the pivotal role of its energy arm, Philippine Geothermal Production Company, Inc. (PGPC). “We are focused on geothermal energy production, which is baseload and runs 24/7. Production has been doing well, and with a new rig in place, we are building capacity to develop more sites,” DyBuncio shared. PGPC operates geothermal steam fields in Tiwi, Albay, and MakBan in Laguna and Batangas, while also advancing five new concession areas including Mt. Malinao, Albay.
Beyond geothermal, SM is investing in other renewable sources across its businesses. Carmen Copper Corporation has launched the country’s first megawatt-scale floating solar facility in Toledo City, Cebu, producing 4.99 MW of power and supplying 10% of the mine’s energy needs. Meanwhile, SM Prime has expanded solar installations across 48 malls, including the largest rooftop system in the Philippines at SM City Fairview. By end-2025, the property giant targets 63 malls powered with a total solar capacity of 100 MW.
The shift also extends to retail and logistics. The SM Store in Cubao now sources part of its electricity from rooftop solar, while the SM Retail Headquarters in Pasay has run fully on renewable power since November 2024. 2GO Group, Inc., SM’s logistics arm, has transitioned warehouses to renewable energy and deployed 42 electric forklifts, reducing carbon emissions by 50 metric tons annually.
These initiatives are backed by BDO Unibank in, which has financed 63 renewable projects worth PHP1 trillion, with a combined capacity of 2,679 MW. “We’re only given one planet,” DyBuncio noted. “At SM, we see renewable energy as both a responsibility and an opportunity to build sustainable businesses and stronger communities.”
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