The Rise Fund, a global impact investing fund managed by alternative asset firm TPG, has acquired 1 gigawatt of solar photovoltaic (PV) projects from Chinese company Trina Solar.
The projects are currently operational, under construction or in late-stage development nearing ready-to-build status across Spain, Chile, Colombia and Mexico, according to TPG.
They will serve as the first solar PV projects within the portfolio of newly created Matrix Renewables, based in Madrid.
“We are excited to launch Matrix Renewables with such a geographically diverse set of high-quality solar PV projects,” said Ed Beckley, a partner at TPG who leads the firm’s infrastructure investing efforts. He added that the firm is actively looking for additional strategic opportunities to grow its global portfolio and build out the platform.
“The global solar PV market continues to grow rapidly as it benefits from a number of secular tailwinds, including the accelerating shif
