SM group boosts RE push with new geothermal, solar projects

Sy-led SM Investments Corp. (SMIC) is expanding its renewable energy portfolio by developing more geothermal sites, commissioning new solar projects, and eyeing investments in wind energy.

- By GABRIELL CHRISTEL GALANG

In a statement on Tuesday, Frederic C. DyBuncio, SMIC president and chief executive officer, said the company is growing its renewable energy assets through its energy arm, Philippine Geothermal Production Co., Inc. (PGPC).

PGPC, which manages 300-megawatt (MW) geothermal steam fields in Tiwi, Albay, and Mak-Ban, Laguna, is currently working on new concession areas, including three well-drilling activities in Mt. Malinao, Albay. The company previously stated this project could add 300 megawatts of baseload capacity.