By David French
NEW YORK (Reuters) – The climate investment arm of buyout firm TPG is in talks to acquire Altus Power, a solar energy provider for residential and commercial property owners, people familiar with the matter told Reuters on Monday.
If 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 has not yet closed, the sources warned, adding that another suitor could also approach Altus and no agreement may be reached with either party.
Stamford, Connecticut-based Altus, one of the largest owners of commercial-scale solar plants in the United States, had said in October that it was working with advisors to explore options, including a possible sale.
Altus, which has a market value of about $650 million, declined to comment. TPG also declined to comment.
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