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Manila Bulletin devider Business devider The Stock Market devider SM Investments accelerates shift to 31% green energy sourcing

SM Investments accelerates shift to 31% green energy sourcing

Published May 22, 2026 02:26 pm
SM Investments Corp. (SMIC) increased its group-wide renewable energy sourcing to 31 percent of total electricity consumption last year, accelerating its shift toward cleaner energy across its sprawling retail, property, and banking empire.
SMIC said its transition to green energy rose from 27 percent in 2024, after the group sourced about 730 million kilowatt-hours of renewable electricity during the year to avoid 370,644 metric tons of carbon emissions.
“For us, investing in renewable energy is both a sustainability and business decision,” SM Investments President and Chief Executive Officer Frederic C. DyBuncio said in a statement. “It helps us manage long-term energy costs, improve operational efficiency, and build more resilient businesses.”
Leading the group’s broader renewable energy strategy is the Philippine Geothermal Production Co. (PGPC), a wholly-owned subsidiary of SMIC that currently operates the Mak-Ban and Tiwi steam fields in the provinces of Batangas, Laguna, and Albay.
PGPC supplies geothermal steam that can generate up to 400 megawatts of clean, renewable energy to power households, offices, and industrial facilities around the clock. It is also developing new geothermal sites across six locations in Luzon, which have the potential to provide up to 400 additional megawatts of clean, renewable geothermal power for the country.
The Mak-Ban and Tiwi steam fields alone generate enough geothermal steam to power up to one million households annually.
“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,” DyBuncio noted.
Across the SM Group’s integrated developments, renewable energy adoption continues to expand. Property developer SM Prime Holdings, Inc. has installed more than 200,000 solar panels across 69 properties as part of its broader energy efficiency initiatives.
The SM Group’s renewable energy transition is also increasingly reflected across its broader business ecosystem. Alfamart recently installed solar panels at its Sariaya Distribution Center in Quezon Province with a peak capacity of 120.28 kilowatt-peak (kWp), helping improve operational efficiency within its supply chain network.
Meanwhile, the group’s banking units continue to support sustainable financing initiatives. As of end-2025, BDO Unibank, Inc. has funded a total of ₱1.21 trillion in sustainable projects, including 71 renewable energy developments amounting to ₱177 billion. China Banking Corporation, on the other hand, provided ₱72 billion in financing for energy access, renewables, and energy efficiency projects in 2025.
SM Investments said the group continues to integrate sustainability and operational efficiency across its retail, property, banking, and portfolio investments. (James A. Loyola)

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SM Investments Corporation Frederic C. DyBuncio SM Prime Holdings Inc. Philippine Geothermal Production Company Inc.
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