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An agreement made by Sembcorp Industries to acquire Philippine solar farm developer Puente Al Sol from CleanCurrent Renewable Energy Inc was dropped. Sembcorp and CleanCurrent Renewable Energy mutually agreed to terminate the proposed SGD 105 million (~$83,048,267) transaction, citing prevailing market conditions and evolving circumstances. Puente Al Sol is developing a solar farm in Cadiz, Philippines, with a planned capacity of 96 MW. The transaction was originally agreed in January 2025. Sembcorp had agreed to the deal as part of its renewable energy activities. The company said the termination follows changes in the conditions surrounding the proposed acquisition. The decision means Sembcorp will not proceed with the planned purchase of the Philippine solar developer.
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