TPG Eyes Altus Power Acquisition in Clean Energy Move

TPG's climate investment division is negotiating the acquisition of Altus Power, a solar energy provider for commercial and residential properties. The deal is not final, with the chance of additional suitors and no guarantee of an agreement. Altus has been exploring potential sale options with advisors.

Buyout firm TPG is in discussions to potentially acquire Altus Power, a solar energy provider serving both commercial and residential clients, according to sources speaking to Reuters.

These talks, involving TPG's climate-focused investment arm, could result in a signed agreement within weeks, though the transaction remains unsettled, with the possibility of other parties expressing interest.

Based in Stamford, Connecticut, Altus Power is among the top owners of commercial-scale solar plants in the U.S. and has been considering sale options. Both Altus and TPG have declined to comment on ongoing proceedings.

(With inputs from agencies.)