SM Investments Corp., the parent company of the SM group, is exploring more renewable energy opportunities, including wind projects, alongside its existing geothermal and solar power initiatives.
The company reaffirmed its commitment to renewable energy as a long-term growth driver, broadening its sources of clean power to help future-proof its businesses and the communities it serves.
SM Investments president and chief executive Frederic DyBuncio underscored the group’s focus on expanding its renewable energy initiatives through its energy arm, Philippine Geothermal Production Company Inc. (PGPC), during the company’s first-half results briefing.
“We are focused on geothermal energy production, which is baseload and runs 24/7,” DyBuncio said.
“Production has been doing well, and with a new rig in place, we are building capacity to develop more sites,” he said.
PGPC operates geothermal steam fields in Tiwi, Albay and MakBan in Laguna and Batangas. It is also developing five new concession areas, including Mt. Malinao in Albay, where three wells have already been drilled.
The group is also exploring wind energy opportunities.
SM’s commitment to clean energy extends across its other businesses. Carmen Copper Corp., a unit of Atlas Consolidated Mining and Development Corp., recently commissioned the country’s first megawatt-scale floating solar facility in Toledo City, Cebu.
