SM Prime Holdings, Inc. (PSE:SMPH), one of Southeast Asia’s leading integrated property developers, is strengthening its commitment to sustainability by expanding its renewable energy footprint. The company has partnered with TeaM (Philippines) Energy Corporation (TPEC) to install over 33,000 square meters of solar panels across four of its malls, reinforcing its position as a frontrunner in clean energy adoption within the commercial real estate sector.
The latest solar initiative will bring renewable energy to SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas. With a combined capacity of 7.5 megawatt-peak (MWp), these installations are projected to generate approximately 11,000 megawatt-hours (MWh) of clean energy annually—sufficient to supply about 16% of each mall’s electricity needs. By reducing dependence on conventional power sources, SM Prime aims to significantly lower its carbon footprint while ensuring long-term operational efficiency.
Construction is set to begin in March 2025, with full operations expected by year-end. This expansion aligns with SM Prime’s broader strategy to achieve net-zero emissions, an ambitious goal that underscores its commitment to environmental responsibility.
TPEC, the retail subsidiary of TeaM Energy Corporation, will oversee the engineering, procurement, and construction of the project. The installations will utilize bifacial solar panels, an advanced photovoltaic technology capable of capturing sunlight from both sides, enhancing energy efficiency and output. These panels have an exceptionally low degradation rate of just 0.4% annually, ensuring a reliable power supply for the next two decades.
“We are committed to delivering high-performance solar solutions that meet international engineering standards,” said TPEC President Tristan Taghoy. “Through continuous monitoring and preventive maintenance, we will ensure these systems operate at peak efficiency for the entire 20-year contract period.”
By adopting solar energy, SM Prime is making a tangible impact on both the environment and the commercial energy landscape. The new solar installations are expected to reduce approximately 4,400 metric tons of carbon dioxide emissions annually—the equivalent of taking thousands of cars off the road each year.
This initiative builds on SM Prime’s existing renewable energy efforts. Currently, 44 out of its 87 malls nationwide are already equipped with solar photovoltaic (PV) systems, boasting a total capacity of over 50 MWp. By continually scaling up its solar power projects, the company is reinforcing its role as a leader in sustainable development in the Philippines.
SM Prime’s increasing investment in renewable energy sets a benchmark for other businesses in the region. As global energy markets shift toward sustainability, commercial properties are recognizing the long-term benefits of integrating solar solutions—not only for cost efficiency but also for regulatory compliance and environmental responsibility.
“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,” said SM Prime President Jeffrey C. Lim.
The initiative signals a broader trend of corporate investments in green energy solutions. As businesses face mounting pressure to address climate change, SM Prime’s approach showcases how large-scale solar adoption can drive sustainability without compromising operational performance.
With its ongoing commitment to clean energy, SM Prime is poised to further expand its renewable energy portfolio in the coming years. The company’s proactive approach to solar integration is not just a strategic move for operational efficiency—it’s a long-term investment in environmental sustainability and corporate responsibility.
As more commercial developers explore renewable energy solutions, SM Prime’s leadership in solar adoption provides a compelling case study. The growing emphasis on sustainability in the private sector will likely accelerate the adoption of similar initiatives, fostering a greener future for the real estate and energy industries alike.