TPG Rise Climate Acquires Altus Power

TPG Rise Climate Acquires Majority Stake in Aurora Energy Research

June 4, 2025

Data & Analytics

TPG Rise Climate (TPG) has agreed to acquire a majority stake in Aurora Energy Research from CGE Partners, with CGE reinvesting alongside 22C Capital and Aurora management. Aurora — an Oxford-based energy market analytics and software platform serving utilities, governments and investors — will scale its data, analytics and software capabilities globally with TPG’s climate investing resources and 22C’s operational support.

TPG Rise Climate Acquires Majority Stake in A-Gas from KKR

August 17, 2023

Environmental Services

TPG Rise Climate, the climate investing strategy of TPG, has agreed to acquire a majority stake in A-Gas, the global refrigerant gas recovery and reclamation specialist. KKR will remain a significant minority shareholder and minority investor LDC will fully exit; the transaction is expected to close by the end of 2023 subject to customary approvals.

TPG Rise Climate Acquires Olympus Terminals

May 7, 2024

Energy

TPG Rise Climate, the climate investing strategy of TPG, signed a definitive agreement to acquire Olympus Terminals, a Long Beach-based independent storage and logistics provider for renewable fuels and refined products. Olympus—owner of two Southern California storage terminals and an interconnected pipeline network—was majority owned by affiliated funds of Davidson Kempner and Intrepid; the deal strengthens TPG Rise Climate's renewable fuels import, storage and distribution capabilities in California.

TPG Rise Climate Invests $150M in Palmetto

March 6, 2023

Renewable Energy

Palmetto, a technology-enabled residential solar and clean energy platform, raised $150 million from TPG Rise Climate to accelerate expansion of its software, product and operating platform. The investment will support growth of Palmetto's end-to-end residential solar capabilities and TPG Rise Climate's Steven Mandel will join Palmetto's board.

Altus Power Acquires 4-MW Operating Solar Portfolio from Beltline Energy in Georgia

October 7, 2020

Renewable Energy

Altus Power America, Inc. acquired a 4-megawatt operating solar portfolio in Georgia consisting of four single-axis tracker projects and one fixed-tilt project from Beltline Energy, LLC. The projects sell power to Georgia Power and generate roughly 6.5 million kWh annually; the acquisition expands Altus Power's C&I-scale distributed generation portfolio and strengthens its presence in the Southeast.

TPG Rise Combines Element Markets and Bluesource to Form Global Decarbonization Platform

February 24, 2022

Renewable Energy

TPG Rise (via TPG Rise Climate and The Rise Fund) has taken majority ownership to combine Element Markets and Bluesource into a vertically integrated global decarbonization platform, with NGP ETP joining the investment and GEF Capital Partners remaining as an investor. The combined business will market and originate carbon and environmental credits and provide advisory, project development and renewable natural gas marketing services to corporate and institutional clients.