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Sembcorp Industries expands Southeast Asia footprint with latest entry into the Philippine market. (Photo: Sembcorp)
Sembcorp Industries announced on Jan. 31 that it has acquired 100% of the shares in Puente Al Sol for a total of SGD 105 million (about USD 77.6 million), marking its strategic entry into the highly competitive solar energy market in the Philippines. This move is part of Sembcorp’s ongoing expansion in the Southeast Asian renewable energy sector.
Sembcorp acquires Puente Al Sol to expand solar presence
According to the statement, Sembcorp’s wholly owned subsidiary, Sembcorp Energy Philippines, signed a share purchase agreement (SPA) with Clean Current Renewable Energy, Inc. (CREI). The transaction will be funded through a combination of internal cash and external loans, with the deal expected to close in the second half of 2025.
