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AboitizPower secures long-term Cleanergy deal with SM Prime

August 09, 2022

Aboitiz Power Corporation (AboitizPower) has secured a long-term Cleanergy deal with SM Prime Holdings, Inc. (SM Prime), one of the leading property developers in Southeast Asia, in a bid to help promote a more sustainable future for the Philippines.

This long-term contract will supply clean electricity to SM Prime properties, including malls, leisure homes, offices, hotels and convention centers and will allow the company to realize its goal of increasing its renewable energy portfolio by more than 50 percent across its various business segments by end-2022.

“This partnership with AboitizPower is aligned with our unwavering commitment to being a catalyst for economic growth and steward of nature. We will continue providing world-class amenities within our sustainable lifestyle cities that have been beneficial and inspirational to millions of Filipinos,” SM Prime Holdings Inc. President Jeffrey Lim said.

SM Prime builds legacy communities based on its core sustainable pillars: Economy, People, Environment, and Community. It is dedicated to generating value sustainably through its diverse business segments.

Through its retail electricity company Aboitiz Energy Solutions, Inc., AboitizPower is poised to supply Cleanergy, the company’s brand for clean and renewable energy, from its Tiwi-MakBan geothermal power plants, and PV Sinag’s solar power facilities, which are operated and managed by AboitizPower subsidiary Aboitiz Renewables, Inc. (ARI). AboitizPower, together with its partners, is the Philippines' largest owner and operator of renewable energy based on installed capacity.

AboitizPower Senior Vice President for Commercial Operations Sandro Aboitiz said they are “thrilled to be SM Prime’s partner in building sustainable lifestyle cities.”

“We thank SM Prime for trusting us to be their partner in their transition to clean and renewable energy. It is a privilege to be given the opportunity to power various SM Prime properties with our renewable assets,” he added.

ARI Vice President for Commercial Strategy, Sales, and Engagement David Aboitiz said they consider it a great milestone to be part of SM’s transition towards renewable energy.

“We are working to rapidly expand our renewable energy portfolio as the demand for Cleanergy grows. We have supported a growing number of corporations transitioning to more renewable energy and we are excited at the prospect of seeing a future where Cleanergy is the norm,” he said.

Throughout this decade, AboitizPower aims to expand its Cleanergy portfolio, in support of the government's efforts to promote renewable energy in the country. AboitizPower aims to build an additional 3,700 MW of renewable energy, growing its existing Cleanergy capacity threefold by 2030.