SM Prime Holdings has partnered with TeaM (Philippines) Energy Corporation to expand the use of renewable energy across its shopping mall network in the Philippines. The agreement will see large rooftop solar systems installed in four major malls: SM City Sta. Mesa, SM City Lucena, SM City East Ortigas, and SM City Tarlac.
The project will cover around 33,000 square meters of rooftop space and involve the installation of more than 13,000 high-efficiency solar panels. Once completed, the combined system will have a total capacity of 7.5 megawatts peak. It is expected to generate nearly 11,000 megawatt-hours of clean electricity every year. This will supply about 16 percent of the total power needs of the four malls.
By producing electricity on-site, the malls will reduce their dependence on the traditional power grid. This move will also help lower carbon emissions and reduce operating costs over time. The shift to solar energy reflects the company’s continued effort to adopt cleaner energy solutions and strengthen its sustainability strategy.
Construction of the solar installations is scheduled to begin in March 2025. The systems are targeted to be fully operational by the end of the same year. As part of the agreement, TeaM (Philippines) Energy Corporation will use advanced bifacial solar panels. These panels can capture sunlight from both sides, allowing them to produce more energy compared to conventional solar modules.
The energy company has signed a 20-year contract to manage and maintain the solar systems. This long-term arrangement is designed to ensure stable performance and consistent energy output throughout the lifespan of the project.
SM Prime Holdings has been steadily expanding its renewable energy portfolio. Out of its 87 malls in the Philippines, 44 already have solar installations. The company’s total installed solar capacity has now exceeded 50 megawatts peak.
Company President Jeffrey Lim said that renewable energy is a core part of SM Prime’s plan to improve operational efficiency and move closer to its net-zero emissions target. The company stated that its growing solar capacity is equivalent to removing thousands of vehicles from the road each year in terms of reducing greenhouse gas emissions. Through these investments, SM Prime continues to set an example for sustainable development in the retail and real estate sector.
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