SM Prime Holdings, Inc., the property development arm of the SM group of companies, has invested US$2 million to build a 1.1 megawatt rooftop solar power project in its mall, the first of its kind in Xiamen, Fujian Province, China.

The firm said in a disclosure to the Philippine Stock Exchange that this is in line with its commitment to reduce greenhouse gas emissions and optimize energy efficiency in its malls.

The project consisted of the installation of 3,740 solar panels on the roof of SM City Xiamen Phase 1 and Phase 2 (SM Lifestyle Center), with a total investment of 13.2 million Renminbi (RMB) or US$ 2 million.

Since the average generated electricity of the project is estimated at 1.1 million kilowatt hour (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,” said SM Prime President Hans Sy.

He noted that, “in line with this, we place strong emphasis in investing in the latest innovations in sustainable and energy efficient technology.”

Aside from SM City Xiamen, SM Prime has introduced a thermal energy storage plant in SM City Jinjiang. This ice-based cooling system fosters a large reduction in the mall’s utility and energy bills and greatly optimizes energy efficiency.

SM Prime operates 47 malls all over the country with a combined gross floor area of 5.9 million square meters. By year-end, SM Prime will have 48 malls in the Philippines and five in China with an estimated combined gross floor area of 6.9 million square meters.

For the rest of 2013, SM Prime is scheduled to launch SM City BF Paranaque. SM Megamall will be expanded with the opening of Building D.