Skip to main content

SM Prime taps Citicore Renewables for the supply of Clean Energy

By

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. 

(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


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.


I been writing romance and science fictions for a long time and blogging is one of my escape and inspiration. Writing is not an easy job and researching is more tedious. But while sharing my experience and interest through blogging, I happened to see a whole new world.

Comments

Post a Comment

SM Leads with Accessibility, Earns 23 Industry Honors

By
With inclusivity and access as a key pillar in SM’s corporate purpose, inclusive spaces and facilities enhance the SM Group’s portfolio of malls, offices, and retail spaces. It is this universal implementation of accessible environments, and commitment to advance disability inclusion that bagged SM Group industry distinctions from The Philippine Foundation For the Rehabilitation of the Disabled Inc. (PFRD) and the National Council on Disability Affairs (NCDA). Through its Corporate Social Responsibility arm, SM Cares, disability-friendly facilities are overseen and supported nationwide with manpower training in line with industry standards to effectively accommodate Persons With Disabilities. “Every single person entering and engaging in the spaces built by SM deserves to feel welcomed and accommodated,” said Engr. Junias M. Eusebio, SM Supermalls Vice President for Operations and Program Director for Disability Affairs, SM Cares. “Our benchmark for true inclusivity expressed well is w...
Image