TPG, through its TPG Rise Climate Transition Infrastructure strategy, is acquiring Altus Power, the largest owner of commercial-scale solar in the United States. TPG will pay $5.00 per share of Altus Power’s class A common stock in an all-cash transaction, which values the company at approximately $2.2 billion, including outstanding debt.
The purchase price represents a 66 percent premium to Altus Power’s unaffected closing price on Oct. 15, 2024, the last trading day prior to the company’s announcement of a formal review of strategic alternatives by its board of directors. This deal is the culmination of a comprehensive review of opportunities available to Altus Power, with the assistance of the company’s financial and legal advisers. The company’s board of directors has unanimously approved this transaction with TPG Rise Climate.
Altus Power expects the partnership to strengthen its ability to deliver greater value to both commercial and community solar cus
