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.
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.