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Long-Term Cleanergy Agreement Between SM Prime and AboitizPower

(From left to right) SM Prime Energy Consultant Jaime Patinio, AboitizPower Senior Vice President for Commercial Operations Sandro Aboitiz, SM Engineering, Design and Development President Hans Sy, Jr., SM Prime President Jeffrey Lim, AboitizPower President and Chief Executive Officer Emmanuel Rubio, Aboitiz Renewables, Inc. Vice President for Commercial Strategy, Sales, and Engagement David Aboitiz, AboitizPower Vice President for Retail – Commercial Operations Business Unit James Byron Yu, and SM Prime Chief Finance Officer John Nai Peng Ong gather for a luncheon on Thursday, August 4, after sealing a long-term partnership with the commitment to helping build a cleaner and brighter future.

One of the top property developers in Southeast Asia, SM Prime Holdings, Inc. (SM Prime), achieves its aim of raising the percentage of renewable energy in its portfolio to more than 50% by signing a long-term agreement with AboitizPower for Cleanergy supply. This is in support of the Department of Energy’s plan to increase the share of renewable energy in the nation’s energy supply to 35% by 2030.

According to the deal, AboitizPower will be able to provide energy from the Tiwi and MakBan Geothermal Power Plants, as well as PV Sinag’s Power Plants, which are run and managed by a subsidiary of AboitizPower called Aboitiz Renewables, Inc. (ARI). By the end of 2022, SM Prime properties under the Retail Competition and Open Access (RCOA), including malls, vacation homes, offices, hotels, and other institutions, will be powered by this long-term contract.

“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 given the opportunity to power various SM Prime properties with our renewable assets”, said Sandro Aboitiz, Senior Vice President of the Commercial Operations Business Unit.

“We consider it a great milestone for our group to be in support of SM’s transition to renewable energy and are working to rapidly expand our renewable portfolio as the demand for Cleanergy grows. We have supported a growing number of corporations transitioning to clean and renewable energy and we are excited at the prospect of seeing a future where Cleanergy is the norm.” said David Aboitiz, Aboitiz Renewables, Inc. (ARI) Vice President for Commercial Strategy, Sales, and Engagement.

In order to support the government’s goals to grow the nation’s renewable energy industry, the top provider of renewable energy intends to increase the size of its Cleanergy portfolio over the course of the next ten years. By 2030, AboitizPower hopes to have a mix of thermal and clean energy capacity that is roughly 50:50.

Find out more about SM Prime and the SM Green Movement

 

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