SM Prime installs solar panels atop two malls in China
InterAksyon.com means BUSINESS
MANILA – Henry Sy-led SM Prime Holdings Inc has put up solar panels atop its two shopping malls in Xiamen to reduce greenhouse gas emissions and economize on energy use.
In a disclosure to the Philippine Stock Exchange, the country’s biggest mall developer and operator said it poured in 13.2 million renminbi or $2 million to install 3,740 solar panels on the roof of SM City Xiamen and SM Lifestyle Center, also in Xiamen.
The total capacity of the rooftop solar power project, the first of its kind in Xiamen, is1,100 kilowatts.
The average generated electricity of the project is estimated at 1.1 million kilowatt hours (KWh) per year. The total generated electricity of the 25-year life cycle will be approximately 27.5 million KWh.
“SM Prime is constantly in pursuit of the highest level of operational efficiency. We want to significantly reduce greenhouse gas emissions and operating costs by minimizing electricity consumption. In line with this, we place strong emphasis in investing in the latest innovations in sustainable and energy efficient technology,” said Hans Sy, SM Prime president.
SM Prime has also introduced a thermal energy storage plant in SM City Jinjiang that resulted in a large cut in the mall’s utility bills.
SM Prime operates 47 malls all over the Philippines with a combined gross floor area of 5.9 million square meters. For the rest of 2013, SM Prime is scheduled to launch SM City BF Paranaque and the expanded SM Megamall with the opening of Building D.
By year-end, SM Prime will have 48 malls in the Philippines. The company's shareholders recentlyapproved its transformation into the flagship property unit of the SM Group, folding into its fold SM Development Corp, Highlands Prime, SM Land and real estate properties of the group.
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