SM Prime signs electricity supply deal with Aboitiz

By Alena Mae S. Flores – August 08, 2019 at 07:00 pm

SM Prime Holdings Inc., one of the largest integrated property developers in Southeast Asia, has chosen Aboitiz Power Corp. to supply 15 of its shopping malls and residential projects with reliable power of up to 110 megawatts over a three year period.

SM Prime signed a retail electricity supply contract with Aboitiz Power to supply the company with an aggregate demand of 50 up to 110 MW for three years during a ceremonial signing agreement on Wednesday.

“With our continuous expansion in the coming years, we need a power supplier that will enable us to support our existing and future partners with reliable and cost-effective power. We believe that Aboitiz Power, with its extensive power generation assets, can provide what we are looking for,” said SM Prime president Jeffrey Lim.

AboitizPower, along with partners, has a net sellable capacity of 4,471 MW from its portfolio of renewable energy and thermal power plants located across the country.

Aboitiz Power chief operating officer Emmanuel Rubio said the company welcomed the partnership with SM Prime.

“We are more than honored to be chosen by SM Prime as its supplier of choice. We are excited to more than just provide reliable and cost-efficient power supply, but to also work with them in looking for better solutions to support SM Prime’s thrust in providing its customers with top quality products and services,” he said.

Early this week, Nestlé Philippines Inc., a leading food company, tapped Aboitiz Power to supply clean energy to its manufacturing facility in Lipa, Batangas province.

Aboitiz Power is also delivering clean energy to two other Nestlé factories in Cabuyao, Laguna and Tanauan, Batangas, as well as its corporate administrative office in Makati City.

Aboitiz Power supplies Nestle’s 17-megawatt aggregated energy demand from the MakBan geothermal power plant in the provinces of Laguna and Batangas.

Aboitiz Power is the holding company for the Aboitiz Group’s investments in power generation, distribution and retail.