“This partnership strengthens our ability to serve both our community solar and commercial clients with clean electric power at a time when demand for power is expected to grow substantially,” said Gregg Felton, CEO of Altus Power. “We are incredibly excited to partner with TPG Rise Climate to continue to build our position as the leading commercial-scale provider of clean electric power to businesses and households from coast to coast.”
The transaction is expected to close in Q2 2025, subject to Altus stockholder and regulatory approvals.
TPG Sees Strong Growth Potential in Altus Power
Scott Lebovitz, head of infrastructure for TPG Rise Climate, praised Altus Power as “a leader in commercial-scale clean power solutions with an exceptional track record of growth.”
Steven Mandel, business unit partner at TPG Rise Climate, echoed this sentiment, stating that TPG looks forward to supporting Altus in its next phase of growth, providing sustainable and cost-effective power solutions to businesses and households.
Legal Advisors on the Deal
Paul Weiss Rifkind Wharton & Garrison LLP is providing antitrust counsel to TPG, with a legal team including partners Annie Herdman and Marta P. Kelly.
