TPG in Talks to Acquire Climate Arm Altus Power, Reports Reuters

TPG Rise Climate, the climate investment arm of buying firm TPG, is reportedly in talks to acquire Altus Power. According to a report on Monday, if negotiations between the two parties are successful, the deal could be signed in the coming weeks. Altus Power shares rose by over 13% on Monday. The company is one of the largest commercial-scale solar energy facility owners in the U.S. Based in Stamford, Connecticut, Altus Power provides solar energy to commercial property owners and residences. The company announced in October that it was working with advisors to explore various options, including a potential sale. It currently has a market value of approximately $650 million.