Puente Al Sol is currently developing a 96MW solar farm in Cadiz, Philippines, which is expected to commence commercial operation later this year.
On Jan 31, Sembcorp Industries (SGX:U96
) (Sembcorp) announced that its wholly-owned subsidiary, Sembcorp Energy Philippines, has signed a share purchase agreement with CleanCurrent Renewable Energy Inc (CREI) to acquire 100% of CREI’s shares in Puente Al Sol for $105 million.
The proposed acquisition will be funded through a mix of Sembcorp’s internal cash resources and external borrowings.
