SM Prime Expands Solar Power Initiatives With TeaM Energy Partnership

SM Prime Holdings, Inc. (SM Prime) has signed an agreement with TeaM (Philippines) Energy Corporation (TPEC), the retail subsidiary of TeaM Energy Corporation, to install over 33,000 square meters of solar panels on the rooftops of four SM malls.

With a combined capacity of roughly 7.5 megawatt peak (MWp), the solar installations at SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas are expected to supply about 16% of each mall’s electricity needs. I Photo: TeaM Energy

Construction is set to begin in March 2025, with operations expected to commence by year-end. The initiative is projected to generate approximately 11,000 MWh of clean energy annually, supporting SM Prime’s sustainability goals.

With a combined capacity of roughly 7.5 megawatt peak (MWp), the solar installations at SM City Lucena, SM City Sta. Mesa, SM City Tarlac, and SM City East Ortigas are expected to supply about 16% of each mall’s electricity needs, significantly reducing reliance on traditional power sources.

“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.

SM Prime is among the first companies in the Philippines to commit to net zero emissions and invest in renewable energy to meet that target.

Currently, 44 of its 87 malls in the Philippines are already equipped with solar photovoltaic (PV) systems. These installations have a total capacity of more than 50 megawatt peak (MWp), equivalent to removing thousands of vehicles from the roads annually.

To ensure the long-term efficiency and reliability of the solar power systems, TPEC will use high-quality bifacial solar panels, designed to capture sunlight from both sides.

These panels have one of the lowest degradation rates in the market, at just 0.4% annually.

“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.

Beyond operational benefits, the new solar installations are expected to contribute to a cleaner environment by reducing approximately 4,400 metric tons of CO2 emissions annually.

“These projects align with our shared commitment to sustainable energy and environmental responsibility,” Taghoy added.

These initiatives reinforce SM Prime’s broader sustainability strategy, positioning the company as a leader in renewable energy adoption within the commercial property sector.