TPG in talks to acquire solar firm Altus Power, sources say

Altus Power

23/12/2024 19:26

By David French
       NEW YORK, Dec 23 (Reuters) - Buyout firm TPG's  TPG.O 
climate investment arm is in talks to acquire Altus Power
 AMPS.N , a provider of solar power to commercial property
owners and residential homes, people familiar with the matter
told Reuters on Monday.
    If the talks between TPG Rise Climate and Altus are
successful, a deal could be signed in the coming weeks, the
sources said, requesting anonymity as the discussions are
confidential. 
    The transaction is yet to be finalized, the sources
cautioned, adding that another suitor could also approach Altus
and it's possible that no deal with any party is reached.
    Stamford, Connecticut-based Altus, which is one of the
largest owners of commercial-scale solar plants in the United
States, had said in October it was working with advisers to
explore options including a potential sale.
    Altus, which has a market value of about $650 million,
declined to comment. TPG also declined to comment.

 (Reporting by David French in New York; Editing by Anirban Sen)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
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