SM Investments Strengthens Pivot to Solar PVs in Support of DOE’s RE Goals

SM Investments has been continuously ramping up its renewable energy initiatives by adopting solutions that lower its carbon footprint. One such solution is the adoption of solar photovoltaic (PV) systems, which provide clean and renewable energy by converting sunlight directly into electricity. This allows SM to reduce its reliance on fossil fuels, lower energy costs, and contribute to a greener environment.

As of February 2025, SM is nearing full operations for the solar PV systems installed in 45 of its properties across the country, with more slated for retrofitting soon.
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SM’s use of solar PV systems is just one of the many ways the company has been taking a more sustainable approach to energy use while supporting the country in achieving its sustainability goals. Its efforts continue to be recognized by reputable institutions both locally and internationally.

For instance, SM’s flagship mall, SM Mall of Asia, was recognized at the 2024 Energy Efficiency Excellence Awards and Sustainable Energy Awards organized by the Department of Energy (DOE). It won the Sustainable Energy Award for a Private Institution for its solar PV system, which is capable of generating 2.7-megawatts (MW) of peak energy—enough to power 1,790 households for an entire year.
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Meanwhile, SM City Butuan was recognized under the New and Existing Building category at the Association of Southeast Asian Nations (ASEAN) Energy Awards 2024 Best Practices Competition for Energy-Efficient Buildings. Endorsed by the DOE to represent the Philippines, the mall was honored for advancing energy efficiency and conservation (EEC) innovations in its design and operations.

Alongside its efforts to integrate renewable energy sources into its operations, SM is also committed to supporting the DOE in achieving its targets under the Renewable Energy Roadmap 2017-2040, particularly its goal to increase the country’s renewable energy installed capacity to at least 20,000 MW by 2040.

SM collaborates with partner solar PV system providers under the Energy Regulatory Commission (ERC) Distributed Energy Resources program. These service contracts define the conditions of the partnership, project timelines, and the assigned malls for each provider, aligning with SM’s adoption of renewable energy.

“At SM, sustainability is a commitment. Our growing solar portfolio demonstrates our dedication to a greener future for the Philippines, in partnership with the DOE and our valued partners,” shared SM Supermalls Vice President for Corporate Compliance Group Engr. Liza Silerio.

“Together, we’re not just generating cost savings – we’re shaping a more sustainable future by supporting long-term environmental goals of our partners while contributing to the Philippines’ green transition,” said Green Heat Corporation Director Glenn Tong. Green Heat is one of SM’s solar PV system providers.

Beyond its environmental and economic benefits, SM’s implementation of solar PV systems serves as a progressive model for public-private partnerships (PPPs). By collaborating with the DOE, SM gains access to technical expertise and financial incentives while helping the country meet its sustainability goals. This approach promotes innovation, creates jobs, and sets a precedent for other commercial establishments to follow.

“The DOE has implemented sustainable energy development strategies and institutionalized national and local capabilities, and we are heartened by the strong support we have received from both the private and public sectors,” said DOE Undersecretary Rowena Cristina Guevara in her opening address at the Sustainable Energy Awards.