Shopping mall operator SM Prime Holdings Inc. said it will expand its energy source portfolio, favoring clean energy, on top of installing solar panel on the roofs of its facilities across all of its business segments over the medium term.
The company said it will increase the share of renewable energy in its electricity consumption by more than half across all of its business segments by the end of next year. This is in support of the Department of Energy’s program of moving up the renewable energy supply component of the country to 35 percent by 2030.
On top of diversifying energy suppliers, SM Prime will also expand the use of solar roof decks in its various properties to partly meet the electricity requirements of its business operations.
“Sustainability has always been a part of SM’s strategy and we are continuously exploring ways to promote environmental consciousness in our operations and developments. We are now embarking on a program to utilize more of renewable energy in our business operations to minimize environmental impact,” SM Prime President Jeffrey C. Lim said.
As of the first half, SM Prime has eight facilities under the DOE’s Retail Competition and Open Access scheme that are utilizing clean energy in its operation with a total capacity of 7.7 megawatts. Through the program, the number of facilities using clean energy will be increased to more than 50, with a combined maximum capacity of 140 MW.