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Sembcorp acquired Puente Al Sol, a 96MW solar project in Cadiz, and awaited regulatory approvals, with operations expected in late 2025. Image Source: AI Generated
Singapore-headquartered Sembcorp, through its subsidiary Sembcorp Energy Philippines Inc., agreed to buy Puente Al Sol Inc. from CleanCurrent for SGD 105 million (~$77.07 million) using cash and borrowings.It included a 96 MW solar farm under development in Cadiz, Philippines. The solar farm was expected to begin operations later in 2025. The transaction remained subject to regulatory approvals and was expected to close in the second half of 2025. This marked Sembcorp’s entry into the Philippines’ renewable energy sector. The agreement was not expected to materially impact Sembcorp’s earnings per share or net tangible assets for the financial year ending December 31, 2025.