SM hints at wind energy push
‘We are focused on geothermal energy production, which is baseload and runs 24/7. Production has been doing well, and with a new rig in place, we are building capacity to develop more sites.’
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Daily Tribune‘We are focused on geothermal energy production, which is baseload and runs 24/7. Production has been doing well, and with a new rig in place, we are building capacity to develop more sites.’
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Philippine Geothermal Production Company Inc. has recently commenced exploration of a new geothermal concession sites including Mt. Malinao, Albay. These new sites are poised to augment additional renewable energy to the Luzon Grid.
Photograph courtesy of smic
SM Investments Corp. (SMIC) is signaling a possible foray into wind energy as it ramps up its renewable power ambitions.
During the company’s first-half results briefing, SMIC president and CEO Frederic DyBuncio reported the group’s drive to grow its clean energy portfolio, including potential wind projects. While specific details were not disclosed, the company’s report suggested that plans are underway.
“We are focused on geothermal energy production, which is baseload and runs 24/7. Production has been doing well, and with a new rig in place, we are building capacity to develop more sites,” DyBuncio said.
“We’re only given one planet. At SM, we see renewable energy as both a responsibility and an opportunity to support the country’s energy transition while building more resilient and sustainable businesses and communities.”
SMIC controls Philippine Geothermal Production Company Inc. (PGPC), which operates geothermal steam fields in Tiwi, Albay, and MakBan in Laguna and Batangas, while advancing five new concession areas, including Mt. Malinao in Albay, where three wells have been drilled.
SM’s renewable initiatives extend across other businesses.
Carmen Copper Corp., a unit of Atlas Consolidated Mining and Development Corp., commissioned the country’s first megawatt-scale floating solar facility in Toledo City, Cebu, generating 4.99 megawatts (MW), or about 10 percent of the mine’s energy needs.
SM Prime has installed solar systems across 48 malls, with a combined capacity of 77.6 MW. Its largest rooftop solar project, at SM City Fairview in Quezon City, spans 4.3 hectares and produces 5,960 MWh annually, covering 11 percent of the mall’s power use. By the end of the year, SM Prime targets 63 malls with 100 MW capacity.
SM Retail now sources 3.8 percent of the SM Store in Cubao’s power from rooftop solar, while its Pasay City headquarters runs fully on renewable energy from November 2024.
In logistics, 2GO Group shifted its warehouses in Asinan and Elisco to renewable energy, with the latter deploying 42 electric forklifts that cut 50 metric tons of carbon emissions annually.
BDO Unibank supports SM’s sustainability drive, financing 63 renewable energy projects with a total portfolio of P1 trillion and installed capacity of 2,679 MW.
