{
  "id": 6415460,
  "title": "Sembcorp axes S$105 million deal to buy Philippine solar farm developer",
  "url": "https://urgent.news/2026/09/09/sembcorp-axes-s-105-million-deal-to-buy-philippine-solar-farm",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T11:37:15.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/sembcorp-axes-s105-million-deal-buy-philippine-solar-farm-developer"
  },
  "original_language": "en",
  "account": "Sembcorp Industries has called off a $105 million deal to acquire Philippine solar farm developer Puente Al Sol, citing \"prevailing market conditions and evolving strategic priorities,\" the company announced on September 9. The Singapore-based energy firm had planned to purchase Puente Al Sol from CleanCurrent Renewable Energy in January 2025. Puente Al Sol is currently constructing a 96-megawatt solar farm in Cadiz, Philippines. Sembcorp stressed its commitment to a disciplined investment approach and its renewables pipeline execution strategy. The company currently has 21.8 gigawatts (GW) of gross renewable energy capacity across its installed and committed projects, with a goal of reaching 25GW by 2028. The decision is not anticipated to significantly affect Sembcorp's earnings per share or net tangible assets per share for the fiscal year ending December 31, 2026. Sembcorp's shares closed at S$6.19, down 0.3 percent or S$0.02, following the announcement.",
  "summary": "It is not acquiring Puente Al Sol due to ‘prevailing market conditions and evolving strategic priorities’",
  "key_points": [
    "Sembcorp cancels $105M deal to buy Philippine solar farm developer Puente Al Sol",
    "Market conditions and strategic priorities cited as reasons for deal cancellation",
    "Sembcorp maintains commitment to disciplined investment approach and renewables pipeline"
  ],
  "editors_take": "Sembcorp's cancellation of the deal reflects a shift in its strategic priorities amid market conditions, indicating a cautious approach to investments despite its ambitious renewables growth target.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}