“For us, investing in renewable energy is both a sustainability and business decision. It helps us manage long-term energy costs, improve operational efficiency and build more resilient businesses to help us better serve our customers, tenants, communities and other stakeholders. Reliable and affordable energy is important not only for businesses but also for communities and the broader economy. We believe renewable energy, particularly geothermal, can help strengthen long-term energy security while supporting economic growth.” ~Frederic C. DyBuncio, SM Investments President and Chief Executive Officer
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| The SM Group operates the country’s largest rooftop solar panel network nationwide among property developers. Its investment in renewable energy started in 2014 with the very first installation of solar panels in SM North EDSA. |
According to SM Investments Corporation (SM Investments), the parent company of the SM Group, the Group boosted its renewable energy sourcing to 31% of total power consumption in 2025, up from 27% in 2024, as it continued to encourage cleaner energy use throughout its subsidiaries.
The Group received roughly 730 million kWh of electricity from renewable energy sources throughout the course of the year.
370,644.07 metric tons of carbon emissions were avoided by switching to renewable electricity, which is the same as taking around 296,954 electric passenger cars off the road for an entire year.
The Group's broader renewable energy strategy is overseen by the Philippine Geothermal Production Company (PGPC), a fully-owned subsidiary of SM Investments. It now operates the Mak-Ban and Tiwi steam fields in the provinces of Batangas, Laguna, and Albay, supplying geothermal steam capable of producing up to 400 megawatts of clean, renewable energy to power residences, businesses, and industrial facilities continuously.
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| The Tiwi steam field in Albay is one of PGPCs geothermal sites |
PGPC is developing new geothermal sites in six locations around Luzon that might provide the country with an additional 400 megawatts of clean, renewable geothermal energy.
The Mak-Ban and Tiwi steam fields in Laguna and Albay alone may provide enough geothermal steam annually to power up to a million homes.
The Group's integrated activities continue to see an increase in the utilization of renewable energy. Over 200,000 solar panels have been put on 69 properties by SM Prime Holdings, Inc. as part of its broader energy conservation initiatives.
The Group's transition to renewable energy is becoming more and more reflected in its broader business environment.
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| The Philippine Geothermal Production Company, Inc. (PGPC)’s Mak-Ban steam field located in Batangas and Laguna is one of the company’s sites supporting a stable, low-carbon renewable energy production. |
Alfamart's Saraiya Distribution Center in Quezon Province now has solar panels with a 120.28 kWp solar peak capacity, which will improve the operating efficiency of the supply chain network.
The Group's banking divisions continue to assist sustainable finance initiatives in the meantime. BDO Unibank, Inc. would have contributed PHP 1.21 trillion to sustainable initiatives by the end of 2025, including 71 renewable energy projects for PHP 177 billion. Energy access, renewable energy, and energy efficiency initiatives received PHP72 billion from China Banking Corp. in 2025.
Sustainability and operational efficiency are still included into the Group's retail, real estate, banking, and portfolio investments, according to SM Investments.
About SM Investments Corporation
SM Investments Corporation (SM) is an owner-operator of market-leading businesses in retail, banking, and property, with investments in high-growth opportunities in the Philippine economy. Through its portfolio, SM generates resilient cash flows and reinvests with discipline to compound value over the long term.
Its retail operations are the largest and most diversified in the country. Its property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines. Its banking interests include BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, one of the country’s largest private domestic banks.
For more information, please visit www.sminvestments.com
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