SM Investments Corporation (SM Investments), the parent company of the SM Group, said the Group increased its renewable energy sourcing to 31% of total electricity consumption in 2025, up from 27% in 2024, as it continued expanding cleaner energy use across its businesses.
The Philippine Geothermal Production Company, Inc. (PGPC)’s Mak-Ban steam field located in Batangas and Laguna is one of the company’s sites supporting a stable, low-carbon renewable energy production.
The Tiwi steam field in Albay is one of PGPCs geothermal sites
The SM Group operates the country’s largest rooftop solar panel network nationwide among property developers. Its investment in renewable energy started in 2014 with the very first installation of solar panels in SM North EDSA.
The Group sourced approximately 730 million kilowatt-hours (kWh) of electricity from renewable energy sources during the year.
The shift to renewable electricity helped avoid 370,644.07 metric tons of carbon emissions, equivalent to taking around 296,954 electric-powered passenger vehicles off the road for one year.
“For us, investing in renewable energy is both a sustainability and business decision,” SM Investments President and Chief Executive Officer Frederic C. DyBuncio said. “It helps us manage long-term energy costs, improve operational efficiency and build more resilient businesses to help us better serve our customers, tenants, communities and other stakeholders.”
Leading the Group’s broader renewable energy strategy is the Philippine Geothermal Production Company (PGPC), a wholly-owned subsidiary of SM Investments that currently operates the Mak-Ban and Tiwi steam fields in the Provinces of Batangas, Laguna and Albay supplying geothermal steam that can generate up to 400 megawatts of clean renewable energy to power households, offices and industrial facilities around the clock.
PGPC is developing new geothermal sites in six locations in Luzon that have the potential to provide up to 400 additional megawatts of clean, renewable geothermal power for the country.
Mak-Ban and Tiwi steam fields in Laguna and Albay alone can 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,” Mr. DyBuncio added. “We believe renewable energy, particularly geothermal, can help strengthen long-term energy security while supporting economic growth.”
Across the Group’s integrated developments, renewable energy adoption continues to expand. SM Prime Holdings, Inc. has installed more than 200,000 solar panels across 69 properties as part of its broader energy efficiency initiatives.
The Group’s renewable energy transition is also increasingly reflected across its broader business ecosystem.
Alfamart recently installed solar panels at its Saraiya Distribution Center in Quezon Province with a solar 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 PHP 1.21 trillion in sustainable projects, including 71 renewable energy developments amounting to PHP 177 billion. China Banking Corp., for its part, provided PHP72 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.
