SM Prime Holdings Inc. (SM Prime) announced that it has signed a long-term agreement with AboitizPower to supply “Cleanergy”, increasing its renewable energy portfolio to over 50%.
Officers of SM Prime Holdings Inc. and AboitizPower sign an agreement to supply “Cleanergy” on Thursday, August 4, 2022. (Left to right) Jaime Patinio, SM Prime Energy Consultant, AboitizPower Senior Vice President of Commercial Operations Sandro Aboitiz, SM President of Engineering, Design and Development Hans Sy Jr., President SM Primo Jeffrey Lim, President and CEO of AboitizPower Emmanuel Rubio, Vice President of Aboitiz Renewables Inc. for Business Strategy, Sales and Engagement David Aboitiz, Vice President of AboitizPower for retail and commercial operations Business Unit James Byron Yu and SM Prime Chief Finance Officer John Nai Peng Ong. PHOTO CONTRIBUTIONS
This is in support of the Department of Energy’s program to increase the Philippines’ renewable energy supply component to 35% by 2030.
Cleanergy is AboitizPower’s renewable energy brand and consists of the related ongoing and future investments in the energy sector. So far it is comprised of 29 renewable energy plants, with a combined net salable capacity of 928.42 megawatts spread across 11 provinces.
“We believe it is an important milestone for our group to support SM’s transition to renewable energy as we are also working to rapidly expand our renewable energy portfolio,” David Aboitiz, vice president of Aboitiz Renewables Inc. (ARI) for business strategy, sales and commitment, he said.
“We have also supported a growing number of companies in the transition to clean and renewable energy and are excited about the future in terms of renewable energy,” said Aboitiz.
Under the agreement, AboitizPower will supply reliable and renewable energy from the Tiwi and MakBan geothermal plants and the Sinag photovoltaic plants, which will be managed and operated by ARI.
This long-term contract, in turn, will power various SM Prime properties as part of the Retail Competition and Open Access by the end of 2022.
“This partnership with AboitizPower is in line with our unwavering commitment to be a catalyst for economic growth and steward of nature,” said SM First President Jeffrey Lim.
“We will continue to provide world-class services within our cities with sustainable lifestyles that have been beneficial to millions of Filipinos,” he continued.
AboitizPower also plans to expand its Cleanergy portfolio over the next 10 years to support the government’s plans to boost the renewable energy industry in the Philippines. Aim for a mix of cleanliness and heat capacity of around 50:50 by 2030.