August 27, 2025 | 12:00am
MANILA, Philippines — The SM Group, owned by the nation’s richest household, is positioning renewable power (RE) as a cornerstone of its long-term progress technique, scaling up investments past geothermal energy.
SM Investments Corp., the group’s mum or dad firm, is increasing the empire left behind by the late taipan Henry Sy Sr. by doubling down on renewables, with wind energy among the many alternatives being explored.
In a current firm briefing, SM Investments president and CEO Frederic DyBuncio mentioned the group’s energy arm Philippine Geothermal Manufacturing Co. Inc. (PGPC) can be on the forefront of this enlargement.
“We’re centered on geothermal power manufacturing, which is baseload and runs 24/7. Manufacturing has been doing properly, and with a brand new rig in place, we’re constructing capability to develop extra websites,” DyBuncio mentioned.
PGPC just lately began its exploration actions at Mount Malinao in Albay, the place three new wells have been drilled.
The challenge, one of many group’s 5 new concession areas, is predicted to generate as much as 49 megawatts (MW) of geothermal energy.
At present, PGPC operates the Tiwi steam subject in Albay and the Mak-Ban facility spanning the provinces of Laguna and Batangas.
“At SM, we see renewable power as each a accountability and a possibility to help the nation’s power transition whereas constructing extra resilient and sustainable companies and communities,” DyBuncio mentioned.
Underneath the Philippine Power Plan, the federal government needs to extend the share of renewables within the nation’s energy combine to 35 % by 2030 and 50 % by 2040 from the present 22 %.
Other than PGPC, SMIC mentioned additionally it is embedding its clear power dedication throughout its different companies, together with mining, property and banking.
As an example, Carmen Copper Corp., a unit of SMIC’s Atlas Consolidated Mining and Growth Corp., just lately commissioned the nation’s first working MW-scale floating photo voltaic facility in Toledo Metropolis, Cebu.
Spanning throughout three hectares on the Malubog Reservoir, the power can generate as much as 4.99 MW of unpolluted energy, sufficient to fulfill about 10 % of the copper mine’s power wants.
Built-in property developer SM Prime Holdings, in the meantime, just lately switched on the nation’s largest rooftop photo voltaic photovoltaic system at SM Fairview in Quezon Metropolis.
With an annual era output of 5,960 MW-hours, the photo voltaic facility is predicted to supply 11 % of the mall’s power necessities.
“By end-2025, SM Prime targets 63 malls with 100 MW complete capability,” SMIC mentioned.
In banking, the Sy household’s BDO Unibank Inc. have financed 63 clear power initiatives totaling P1 trillion with an mixture put in capability of two,679 MW.
