Singapore-based Sembcorp Industries is making a strategic entry into the Philippines’ renewable energy sector with its acquisition of Puente Al Sol Inc for S$105 million ( US$76.7 million ). The move reinforces the company’s commitment to expanding its renewables footprint and driving the region’s energy transition.

Sembcorp Energy Philippines signed a share purchase agreement with CleanCurrent Renewable Energy Inc ( CREI ) to acquire 100% of CREI’s shares in Puente Al Sol. The deal will be funded through a mix of Sembcorp’s internal cash resources and external borrowings.

Puente Al Sol is currently developing a 96-megawatt solar farm in Cadiz, Negros Occidental, which is expected to begin commercial operations later this year. The transaction is subject to regulatory approvals and is expected to close in the second half of 2025.

Sembcorp has been actively expanding its solar energy presence across the region with several recent projects.

In Indonesia, the company launched its first large-scale solar venture through its subsidiary PT Sembcorp Renewables Indonesia. The Nusantara Sembcorp Solar Energi ( NSSE ) power plant features a 50MW solar photovoltaic ( PV ) installation paired with a 14.2-megawatt-hour battery energy storage system ( BESS ). Spread across 87 hectares in Nusantara, Borneo, the facility is designed to generate approximately 93 gigawatt-hours of renewable energy annually, supplying electricity to Indonesia's future capital city.

In India, Sembcorp has secured several solar deals. In December last year, the Singaporean firm won a contract from the Solar Energy Corporation of India ( SECI ) to develop a 150MW solar PV plant with a 300MWh BESS. This build-own-operate project is set to provide on-demand power to support peak electricity demand over a 25-year period, with operations expected to begin within 24 months of signing the power purchase agreement.

Additionally, in October and November last year, Sembcorp, through its wholly owned renewables subsidiary, Sembcorp Green Infra Private Limited, received letters of award for two wind-solar hybrid power projects. These include a 150MW project from SECI and a 300MW project from NTPC Ltd, one of India’s leading power generation companies.

These recent developments highlight Sembcorp’s ongoing push into Asia’s renewable energy sector, reinforcing its role as a key player in the region’s clean energy transition.