Solar Philippines eyes Singapore venture after raising US$215 million

Singapore—Solar Philippines is setting its sights on Singapore after successfully raising US$215 million in an oversubscribed follow-on offering (FOO).

The Philippine solar provider, which also has operations in Vietnam, plans to use the funds to finance around 10 gigawatt (GW) of solar projects in the Philippines, as well as for potential acquisitions in Southeast Asia, including Singapore.

The company, which is led by Leandro Leviste, said that its Singapore expansion is part of its goal to become one of the leading renewable energy providers in the region.

Solar Philippines has identified Singapore as a key market due to its strong commitment to sustainability and its growing demand for renewable energy.

The company is exploring various opportunities in Singapore, including the development of solar farms and partnerships with local companies.

Solar Philippines is confident that its expertise in solar energy development and its track record of success in the Philippines will enable it to succeed in Singapore.

The company’s expansion into Singapore is a significant development for the solar industry in Southeast Asia.

It is a sign of the growing demand for renewable energy in the region and the increasing interest from investors in solar energy projects.

Singapore is emerging as a leader in sustainability in Southeast Asia, and its commitment to renewable energy is a positive sign for the future of the region.