Sembcorp Utilities to buy 20% stake in Aster Power, become exclusive gas supplier

Sembcorp Industries

29/07/2026 04:26

July 29 (Reuters) - Sembcorp Utilities, a unit of Singapore-listed Sembcorp Industries SCIL.SI, said on Wednesday that it will purchase a 20% equity stake in Aster Power, deepening its energy partnership with Aster Chemicals and Energy.

Here are some details:
Aster Power supports Aster's integrated refining and chemicals operations at Pulau Bukom and Jurong Island in Singapore.
According to Sembcorp, the investment will support the expansion of Aster Power's electricity, steam and renewable energy capacity to meet growing demand. 
Sembcorp will also become Aster Power's exclusive gas supplier.
The transaction remains subject to regulatory approvals and the finalisation of definitive agreements and other deal terms.
OCBC is acting as Aster Power's exclusive financial adviser on the deal.
Sembcorp said the deal would deepen its partnership with Aster and strengthen its ability to serve Singapore's industrial sector. It added that Aster Group views the partnership as a way to enhance energy reliability and support its decarbonisation efforts.


 (Reporting by Emily Ou Yong; Editing by Sherry Jacob-Phillips)
 ((emily.ouyong@thomsonreuters.com;))