SM Prime Holdings, Inc. (SM Prime), one of the leading property developers in Southeast Asia, secures a long-term deal with AboitizPower for Cleanergy supply, realizing its goal of increasing its renewable energy portfolio to more than 50%. This is in support of the Department of Energy’s program of moving up the renewable energy supply component of the country to 35% by the year 2030.
Under the agreement, AboitizPower is poised to supply reliable and responsibly-sourced energy from Tiwi and MakBan Geothermal Power Plants, and PV Sinag’s Power Plants, operated and managed by AboitizPower subsidiary, Aboitiz Renewables, Inc. (ARI). This long-term contract will power SM Prime properties, including malls, leisure homes, offices, hotels, and other establishments under the Retail Competition and Open Access (RCOA) by the end of 2022.
“This partnership with AboitizPower is aligned with our unwavering commitment to being a catalyst for economic growth and steward of nature. We will continue providing world-class amenities within our sustainable lifestyle cities that have been beneficial and inspirational to millions of Filipinos,” said Jeffrey Lim, SM Prime Holdings Inc.’s President.
SM Prime builds legacy communities based on its core sustainable pillars: Economy, People, Environment, and Community. It is dedicated to generating value sustainably through its diverse business segments.
“AboitizPower is thrilled to be SM Prime’s partner in building sustainable lifestyle cities. We thank SM Prime for trusting us to be their partner in their transition to clean and renewable energy. It is a privilege to be given the opportunity to power various SM Prime properties with our renewable assets”, said Sandro Aboitiz, Senior Vice President of the Commercial Operations Business Unit.
“We consider it a great milestone for our group to be in support of SM’s transition to renewable energy and are working to rapidly expand our renewable portfolio as the demand for Cleanergy grows. We have supported a growing number of corporations transitioning to clean and renewable energy and we are excited at the prospect of seeing a future where Cleanergy is the norm,” said David Aboitiz, Aboitiz Renewables, Inc. (ARI) Vice President for Commercial Strategy, Sales, and Engagement.
The leading renewable energy provider plans to expand its Cleanergy portfolio in the next 10 years to support the government’s plans to boost the country’s renewable energy industry. AboitizPower is targeting approximately 50:50 Cleanergy and thermal capacity mix by 2030.
(From left to right) SM Prime Energy Consultant Jaime Patinio, AboitizPower Senior Vice President for Commercial Operations Sandro Aboitiz, SM Engineering, Design and Development President Hans Sy, Jr., SM Prime President Jeffrey Lim, AboitizPower President, and Chief Executive Officer Emmanuel Rubio, Aboitiz Renewables, Inc. Vice President for Commercial Strategy, Sales, and Engagement David Aboitiz, AboitizPower Vice President for Retail – Commercial Operations Business Unit James Byron Yu, and SM Prime Chief Finance Officer John Nai Peng Ong gather for a luncheon on Thursday, August 4, after sealing a long-term partnership with the commitment to helping build a cleaner and brighter future.
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About SM Prime
SM Prime Holdings Inc., one of the leading property developers in Southeast Asia, is committed to providing safe and sustainable spaces for its stakeholders. Its development strategy is anchored on the responsible use of resources. In the communities it serves, it is able to promote resource conservation, environmental protection, and disaster resiliency by implementing solutions for water, waste, and energy management.
SM Prime is a key player in the SM Green Movement that aims to improve the quality of life of communities through sustainable solutions to promote a green planet, green living, and a green culture.
Find out more about SM Prime and the SM Green Movement