Sy-led SM Prime Holdings, Inc. (SM Prime) is expanding its renewable energy (RE) initiatives by installing rooftop solar panels across four malls with a combined capacity of 7.5 megawatts (MW).
In a stock exchange report on Wednesday, SM Prime said it tapped TeaM (Philippines) Energy Corp. (TPEC) for the solar installations covering over 33,000 square meters at SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas.
The installations are set to begin construction in March and are expected to be operational by the end of the year.
Once running, the systems are projected to generate around 11,000 megawatt-hours of clean energy annually, supplying about 16 percent of each mall’s electricity needs and cutting approximately 4,400 metric tons of carbon emissions annually.
“Integrating RE 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 said.
TPEC will install high-quality bifacial solar panels, which capture sunlight from both sides and have an annual degradation rate of only 0.4 percent.
“We are committed to delivering high-performance solar solutions that meet international engineering standards.
Through regular monitoring and preventive maintenance, we will ensure these systems operate at peak efficiency for the entire 20-year contract period,” said TPEC President Tristan Taghoy.
SM Prime is among the first local firms to commit to net zero emissions and invest in RE.
Currently, 44 of its 87 malls are equipped with solar photovoltaic systems, with a total capacity exceeding 50 MW.
