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SM Prime Taps Citicore Renewables for the Supply of Clean Energy

July 31, 2023

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. ###

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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.

SM Prime, UPLB Team Up for Sustainability Scholarship

April 26, 2023

SM Prime Holdings Inc. (SM Prime) has partnered with the University of the Philippines Los Baños (UPLB) to further promote the country’s pursuit of sustainable development.

Through a scholarship grant, SM Prime aims to assist select students pursue undergraduate degrees in Bachelor of Science in Human Ecology (BSHE) and Bachelor of Science in Forestry (BSF) – courses geared towards sustainability.

The scholarship will be awarded to students from low-income households in Pasay City intended to provide better employment prospects and help reduce poverty and inequality, which are major obstacles to sustainable development.

Members of the University of the Philippines Los Banos (UPLB) and SM Prime Holdings Inc ink partnership to create scholarships geared towards sustainable development. Present during the signing are (From left) UPLB College of Forestry and Natural Resources Dean Marlo Mendoza, UPLB College of Human Ecology Dean Dr. Ricardo Sandalo, SM Prime AVP and Head of Marketing, PR, and Communications Rida Reyes Castillo, UPLB Chancellor Dr. Jose Camacho Jr., and Vice Chancellor for Student Affairs Dr. Janette Malata-Silva.

Collaboration for innovation and sustainability

In an interview, UPLB Chancellor Dr. Jose Camacho, Jr. shared his optimism about the partnership, citing the impact of education, especially sustainability-related fields of studies, in social and economic mobility.

“The scholarship will enable more students to pursue their studies in areas related to sustainability such as environmental science, renewable energy, and sustainable agriculture. By investing in education in these areas, we are preparing a new generation of leaders who will have the knowledge and skills to address the complex environmental and social challenges facing our world today,” Dr. Camacho said.

“It will encourage research and development in areas related to sustainability. By providing support for students to pursue advanced studies, we are creating a pipeline of future researchers and innovators who can develop solutions to pressing environmental and social problems,” he added.

Aside from enabling students to pursue their education without financial burden, the UPLB chancellor believes that the scholarship can produce competent leaders capable of solving complex environmental and social challenges, and create a pipeline of innovative researchers.

He further stressed how fostering collaborations and innovation in sustainability between the academic community and the private sector can lead to new environmentally and socially responsible products, technologies, and services that contribute to the Sustainable Development Goals.

SM Prime AVP and Head of Marketing, PR, and Communications Rida Reyes Castillo signed the memorandum of agreement alongside UPLB Chancellor Dr. Jose Camacho Jr. The scholarship formed under the partnership continues SM Prime’s pursuit of sustainable development.

Ripples of social good

SM Prime AVP and Head of Marketing, PR, and Communications Rida Reyes Castillo shared that the partnership between SM Prime and UPLB is a testament to the shared commitment of both institutions towards promoting sustainability and creating a better future for the next generation.

By supporting the education of would-be scholars, SM Prime hopes to create ripples of social good within families and communities, ultimately contributing to the development of a more sustainable and equitable society.

“Improving the well-being of its partner communities and investing in people’s growth have long been among SM Prime’s sustainability pillars woven at the core of its business strategies and operations. As such, SM Prime deems it important to create programs that would provide access to quality education for all, and in the long term, create a pool of proactive human resources who can responsibly carry out and balance the economic, social, and environmental aspects of a society’s sustainable development aspirations,” Castillo said.

“SM Prime believes UPLB would be the best partner to support its sustainability initiatives in promoting a conducive learning environment while honing new Iskolars ng Bayan leaders committed to knowledge creation and public service,” she also said.

The SM Prime Sustainability Scholarship is open to students from Pasay City, under UPLB's BSHE and BSF programs with an annual gross family income of not more than PhP150,000.00

For more information, interested applicants may contact the UPLB OSG +63 49 536 3209 or email at osg.uplb@up.edu.ph..

SM Prime Taps Citicore Renewables for the Supply of Clean Energy

SM Prime, UPLB Team Up for Sustainability Scholarship

SJ Valdez

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