SM Prime Holdings Inc. (SM Prime) secures a long-term deal with AboitizPower for Cleanergy supply, realizing its goal of increasing its renewable energy portfolio to more than 50 percent.
This is in support of the Department of Energy’s program of moving up the renewable energy supply component of the country to 35 percent by the year 2030.
Under the agreement, AboitizPower will 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. 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 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 allowed to power various SM Prime properties with our renewable assets,” Sandro Aboitiz, senior vice president of the Commercial Operations Business Unit, said.