Village Connect
SM Investments Corporation (SM Investments), the parent firm of the SM group, is charting a stronger path toward clean energy as it positions renewable power as both a responsibility and a long-term growth opportunity. At the company’s first-half results briefing, President and CEO Frederic C. DyBuncio emphasized that investing in renewable energy is central to ensuring business resilience while supporting the country’s energy transition.
A key driver of this strategy is Philippine Geothermal Production Company, Inc. (PGPC), SM’s energy arm, which continues to strengthen operations in the Tiwi, Albay and MakBan, Laguna-Batangas geothermal steam fields. With a new rig in place and three wells already drilled in Mt. Malinao, Albay, PGPC is accelerating its pipeline of five new concession areas to expand baseload geothermal capacity—energy that runs 24/7 and can sustainably power industries and communities.
Beyond geothermal, SM is diversifying its clean energy portfolio. Its mining unit, Carmen Copper Corporation, recently launched the Philippines’ first megawatt-scale floating solar facility in Toledo City, Cebu. Spanning three hectares of the Malubog Reservoir, the project produces 4.99 MW of renewable energy, meeting 10% of the copper mine’s electricity needs. SM is also actively exploring opportunities in wind power.
In the property sector, SM Prime Holdings, Inc. is harnessing solar energy at scale. To date, 48 of its malls run on rooftop solar photovoltaic systems with a combined capacity of 77.6 MW. The crown jewel is SM City Fairview in Quezon City, now home to the country’s largest rooftop solar PV system, generating 5,960 MWh annually—enough to cover 11% of the mall’s power use. SM Prime aims to bring this capacity to 100 MW across 63 malls by the end of 2025.
Other business units are following suit. SM Retail has begun powering select stores and headquarters with solar energy, while logistics arm 2GO Group, Inc. has switched to renewable power for its warehouses in Asinan and Elisco. At Elisco, 42 electric forklifts now replace conventional ones, cutting an estimated 50 metric tons of carbon emissions annually.
Supporting these efforts is BDO Unibank, Inc., which has financed 63 renewable energy projects worth a total of ₱1 trillion, delivering an installed capacity of 2,679 MW nationwide.
“For us, renewable energy is both a responsibility and an opportunity,” DyBuncio said. “We’re only given one planet, and at SM, we aim to do our part in building sustainable businesses that also support the communities we serve.”
With initiatives spanning geothermal, solar, wind, and green financing, SM is steadily reshaping its ecosystem to thrive in a low-carbon future while creating new growth opportunities in clean energy.
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