Sembcorp Industries (SGX:U96) signed a share purchase agreement with CleanCurrentRenewable Energy to acquire 100% shares in Puente Al Sol for SG$105 million, according to a filing with the Singapore Exchange on Friday.
Puente Sol is developing a 96MW solar farm in Cadiz, Philippines, which is expected to be operational later this year.
The proposed acquisition will be be funded through internal cash resources and external borrowings, the filing said.
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