Skip to main content

SM Prime taps Citicore Renewables for the supply of Clean Energy

 


(From left to right) SM Prime Energy Consultant Jaime Patinio, SM Prime Chief Finance Officer John Nai Peng Ong, SM Prime President Jeffrey Lim, CREC Chairman Edgar Saavedra, CREC President & CEO Oliver Tan, CREC Sr. Manager Sales & Energy Trading Jerard Garcia

SM Prime Holdings, Inc. (SM Prime) and Citicore Renewable Energy Company (CREC) signed a Memorandum of Agreement on 11 July 2023 as a joint commitment to champion renewable energy. 

Through this partnership, SM Prime will source its energy requirements of up to 90 megawatts (MWac) from CREC’s upcoming Lumbangan Solar Power Plant in Tuy, Batangas. The long-term agreement will commence in the first half of 2024. This is in line with the Retail Competition and Open Access (RCOA) policies of the Department of Energy.

This development further strengthens both CREC and SM Prime’s commitment to the Department of Energy’s program of moving up the renewable energy supply component of the Philippines to 35% by the year 2030.

“This partnership marks our strong commitment to providing sustainable operations in our developments nationwide. It is aligned with SM Prime’s target of achieving net zero by the year 2040. SM Prime ensures that its risk-informed investments catalyze sustainable development and positive change in the communities where it operates,” said Mr. John Ong, SM Prime Chief Finance Officer.

The agreement with SM Prime adds to CREC’s long list of blue-chip company partners, attesting to the company’s solid performance and service excellence.

“We are happy to partner with SM Prime in providing clean and safe renewable energy for their power requirements,” said Mr. Oliver Tan, CREC President. “We believe that their support and trust in us through this partnership reflects our commitment as a renewable energy provider, and we are glad that SM Prime shares in our vision of a sustainable future,” Mr. Tan added. ###

ABOUT SM PRIME:

SM Prime is one of the largest integrated property developers in Southeast Asia that offers innovative and sustainable lifestyle cities with the development of malls, residences, offices, hotels, and convention centers. 

ABOUT CITICORE:

Citicore Renewable aims to lead the renewable energy revolution by empowering Filipino communities through positive energy. With a projected 5 Gigawatts of green capacity addition in the next five years, Citocore Renewable is committed to powering a First-World Philippines with Pure Renewable Energy.

Comments

Post a Comment

Popular posts from this blog

Indulge with McDonald’s NEW Holiday Treats, Here for a Limited Time Only

McDonald’s Philippines is adding a touch of holiday magic to its menu this season with special limited-time offerings starting November 15. The quick-service restaurant giant has given a festive upgrade to its bigger and better Chicken McDo and iconic McFlurry, to bring out the kid in you this Christmas season. McDonald’s introduces the Sweet BBQ Glazed Chicken McDo – a new and festive twist on its classic Chicken McDo, lightly glazed with a sweet barbeque sauce, offering the perfect blend of smoky and savory. For dessert lovers, two new McFlurry flavors will be available to satisfy that holiday sweet tooth: indulge in the Tiramisu McFlurry, a balanced mix of sweet coffee and cocoa flavors with bits of Malt Crunch, and the Hazelnut McFlurry, a rich, crunchy chocolaty treat that brings hazelnut indulgence to McDonald’s beloved Vanilla Soft Serve. At the company’s launch of their holiday campaign, “Love Ko ang Pasko! Love Ko ang McDo!” McDonald’s Philippines Marketing Director Ashley San...
Post a Comment
Read more

Taste Korea’s Finest: Paldo’s Casual Fine Dining Arrives at SM Podium

  Manila just got a taste of royalty with the arrival of Paldo, the first Korean fine dining restaurant in the Philippines, now open at SM Podium. Known for its curated mix of premium dining and experimental concepts, SM Podium is the perfect setting for Paldo’s fresh yet traditional take on Korean cuisine. Owned and brought to life by Ryan Bang, the restaurant delivers a dining experience that’s both casual and refined. Paldo, which means “eight provinces,” takes its patrons on a journey across South Korea through dishes that represent the country’s rich and diverse food culture. From bold southern flavors to delicate northern specialties, the restaurant brings the heart of Korea to Manila. At Paldo, the goal is simple: to show Filipinos how kings and queens of  Korea once dined, without making it feel intimidating or out of reach. Here, fine dining is made casual and affordable, while still holding on to the elegance and authenticity of royal Korean meals. Experience the per...
Post a Comment
Read more

SM Prime prepares for a resilient future

The effects of the 7.7 magnitude earthquakes in Myanmar and the aftershocks in Thailand continue to be seen months after the events. The ultimate question is asked: Are we prepared for “The Big One”? As one of the most vulnerable countries to disaster and climate risk, SM Prime Holdings, Inc. (SM Prime), the leading integrated property developer in Southeast Asia, continues to reinforce its commitment to disaster resiliency and heightened climate action.  The role of education To increase the capacity of readiness within the institution and its communities, SM Prime continues to advocate for emergency preparedness and the general public’s continued education.  SM Cares, SM Prime’s foundation arm, facilitates the annual Emergency Preparedness Forum to help mallgoers learn about emergency procedures, putting importance on staying calm to reduce panic and anxiety, basic first aid, life-saving techniques, and preparing senior citizens and persons with disabilities (PWD) in an actu...
Post a Comment
Read more