SM Prime Boosts Green Energy Goals with Solar Power Expansion
- March 20, 2025
Property developer SM Prime Holdings, Inc. (SM Prime) expanded its solar energy capabilities in 2024, enabling the company to generate 27.6 gigawatt-hours (GWh) of clean energy, a 49 percent increase from the previous year.
Through the ongoing installation of solar panels across SM malls and developments, the company lowered its carbon emissions by 19,140.6 metric tons of CO2—equivalent to removing more than 4,100 cars from the road annually.
Pioneering the switch to solar
In 2014, SM North EDSA became the first commercial property in the Philippines to install rooftop solar photovoltaic (PV) panels, which, at the time, was the largest installation in Southeast Asia.
The company installed 5,760 solar panels and 60 inverters to produce 1.5 megawatts of electricity. SM said the solar power facility would electrify 16,000 lighting fixtures, 59 escalators, and 20 elevators.
At present, SM Prime operates 47 malls and developments with solar installations totaling 63 megawatts (MW) of capacity.
(Also read: SM Retail plugs into 100% clean energy with MPower)
Expanding solar power capacity
In 2025, the company plans to add 20 more rooftop solar PV projects, further advancing its efforts to increase energy efficiency and ensure long-term resilience against fluctuating energy prices.
This expansion is part of SM Prime’s broader sustainability strategy to integrate renewable energy solutions into its operations, helping lower operational costs and environmental impact.
“Expanding our use of solar energy enhances the sustainability of our developments. This initiative also enables us to support the Interruptible Load Program (ILP) of the Department of Energy (DOE),” SM Prime President Jeffrey C. Lim said in a press release.
The ILP contributes to grid stability by enabling distribution utilities and electric cooperatives to ask major power consumers to rely on their own generators and power sources. Participants, such as malls, large corporations, and factories with substantial backup capacity, help ensure a steady power supply during times of high demand when available resources may be insufficient.
“Most SM Supermalls participate in the ILP, contributing 110MW of power during each activation,” the company shared.
“SM Prime leads the private sector in ILP contributions, with SM Mall of Asia providing the highest committed capacity at 15.92MW,” the integrated property developer added.
(Also read: Watsons PH to energize more facilities with solar)
Partnership with TeaM Energy
Last February, SM Prime signed an agreement with TeaM (Philippines) Energy Corporation (TPEC), the retail subsidiary of TeaM Energy Corporation, to install solar panels on the rooftops of four malls: SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas.
With a total capacity of around 7.5 megawatts peak (MWp), the solar installations in the four malls are projected to generate about 11,000 megawatt-hours (MWh) of clean energy each year. This will cover roughly 16% of the electricity consumption of each mall, significantly lowering dependence on conventional power sources.
“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 C. Lim shared.
Sources:
https://mb.com.ph/2025/3/17/sm-prime-plans-to-add-20-solar-projects-in-2025
https://www.philstar.com/headlines/2014/11/25/1395610/sm-hailed-first-solar-mall
https://www.smprime.com/latest_news/sm-hailed-for-first-solar-mall/
https://www.smprime.com/company_releases/sm-prime-scales-up-solar-energy-capacity-in-2024/
