SM Prime Holdings, a retail giant committed to maximizing the energy efficiency and reducing greenhouse emissions in malls, has recently completed the installation of new solar panels in three of its major malls, namely the SM City Cabanatuan, SM City Cauayan, and SM City Iloilo.
For the record, SM launched its first solar powered mall at SM City North Edsa, Philippines in 2014, with a capacity of 1.5 MW. The SM Mall of Asia was completed two years later, which has a 2.7 megawatts of solar power capacity and is almost twice the capacity of the SM City North Edsa’s solar installation.
In its quest to deliver cheaper and cleaner power to shopping mall across Philippines, SM has decided to launch five more solar powered malls in SM Seaside City Cebu, SM City Olongapo, SM City Trece Martires, SM City Dasmariñas, and SM City Tuguegarao Downtown. By the end of these projects, SM Prime would approximately have 33,000 solar panels, which could produce 8.9 megawatts of electricity. For the record, this substantially huge capacity is enough to power around 890,000 10-watt LED lamps, fully charge around 1.3 million mobile phones, provide energy equivalent to almost 6,000 households, or run around 297,000 30-watt electric fans.
The retail giant, SM Prime Holdings, aspires to lead the commercial and industrial establishments on the use of clean energy with Solar Philippines, the country’s largest manufacturer & developer of solar rooftop power plants. Solar Philippines entered the solar panel manufacturing market last year after the dramatic shut down of US-based SunPower’s two factories in Philippines. The company aims to develop its production to around 2,000 MW of capacity on an annual basis and become the largest non-Chinese manufacturer of solar panels. However, in a bid to expand its global reach, Solar Philippines is expected to join forces with Chinese companies to manufacture solar panels & export it to Europe and the United States. This move is anticipated to create over 50,000 job opportunities in the solar industry, from manufacturing to installation services.
With an aim to make operations more environmentally sound and sustainable, Solar Philippines not only utilizes the unused space but also provides green roofs for the malls. Moreover, it is also the largest developer in Southeast Asia and has recently inaugurated a factory in Batangas that will be able to produce solar panels that could represent a capacity of 800 MW by 2018. As the region is witnessing growing adoption of clean energy sources over conventional energy, this project is set to be a catalyst for the overall economic growth of concentrated solar power market.
Ojaswita Kutepatil develops content for Market Size Forecasters. A mechanical engineer by qualification, worked as a BDE and Technical Engineer before switching her profession to content writing. As an Associate Content writer, where she pens down write-ups pertaining to the market research industry...