SM Prime Holdings, Inc. and Citicore Renewable Energy Company signed a Memorandum of Agreement on July 11, 2023 as a joint commitment to champion renewable energy. Through this partnership, SM Prime will source its energy requirements of up to 90-Megawatts from CREC's upcoming Lumbangan Solar Power Plant in Tuy, Batangas. The long-term agreement will commence in the first half of 2024. This is in line with the Retail Competition and Open Access policies of the Department of Energy.