TPG Launches Matrix Renewables with The Rise Fund’s Acquisition of 1GW of Solar PV Projects from Trina Solar
1.7.2020 08:00:00 EEST | Business Wire | Press release
The Rise Fund, a global impact investing fund managed by alternative asset firm TPG, today announced the acquisition of approximately 1 gigawatt (GW) of solar PV projects from Changzhou, China-based Trina Solar (SHA:688599). The solar PV projects included in the transaction are currently operational, under construction or in late stage development nearing ready-to-build status across Spain, Chile, Colombia, and Mexico, and will serve as the first solar PV projects within the portfolio of newly created, Madrid-based Matrix Renewables. Terms of the transaction were not disclosed.
TPG and The Rise Fund are assembling an industry-leading management team for Matrix Renewables and will leverage the firm’s extensive investing and business building experience, global network, and deep cross-platform infrastructure and renewable energy expertise to develop and acquire additional solar PV projects globally.
“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. “Trina is one of the leading manufacturers of solar PVs, with a history of developing world-class solar PV projects in key markets. With the establishment of Matrix Renewables and the leadership of a seasoned management team, we are actively looking for additional strategic opportunities to grow our 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 shift to decarbonization,” said Steve Ellis, Co-Managing Partner of The Rise Fund. “Solar PV development is one of the many ways The Rise Fund is tackling climate change and addressing the climate, energy, and responsible consumption-focused United Nations Sustainable Development Goals. We look forward to growing the Matrix Renewables portfolio to accelerate positive environmental impact well-beyond this initial 1GW of clean energy generation.”
TPG has been building out a dedicated infrastructure investing team, based in its London office, with key hires over the last year, including Steven Mandel who brings deep experience in renewables investments. The team works across TPG platforms and their partnership with The Rise Fund in this transaction led to the formation of Matrix Renewables. TPG’s infrastructure team also recently led the firm’s investment into Abengoa S.A.’s operating electricity transmission line assets in Brazil. Throughout TPG’s history, the firm has made a number of investments in the broader infrastructure asset class around the world, including in transportation, telecommunications, and renewable energy.
About TPG
TPG is a global investment firm that is dedicated to delivering differentiated returns for our investors and their beneficiaries, and we are committed to doing so with integrity. Our investment strategy embraces change, takes on complexity, and creates unique opportunities. Over our more than 25-year history, we have built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives, and advisors around the world. This ecosystem drives insight and engagement, which are critical to our approach to investing, value creation, and culture. The value we place on insight is reflected in the rigor of our investment process and our deep, research-based approach to theme and sector development. We are active investors and engage deeply with our portfolio companies, bringing skilled executives and operating professionals to add value beyond capital and drive long-term performance. Our success depends on our people, and we build and sustain our world-class team by creating an inclusive, supportive culture within TPG that seeks excellence and encourages humility and transparency. To learn more, visit TPG’s website at www.tpg.com and on Twitter @TPG.
About The Rise Fund
The Rise Fund is the world’s largest global impact platform committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns. With more than $5 billion in assets under management across its platform, The Rise Fund works with growth-stage, high potential, mission-driven companies that have the power to change the world. Headquartered in San Francisco, The Rise Fund was founded in 2016 to deliver deep expertise in business solutions to help achieve the United Nations’ Sustainable Development Goals. As part of TPG, The Rise Fund offers investment resources, business-building skills, rigorous measurement and a global network to help portfolio companies accelerate growth and impact. With the ability to invest across a wide variety of sectors and countries at scale, The Rise Fund focuses on opportunities in education, energy, food and agriculture, financial technology, healthcare and technology. For more information, visit therisefund.com
About Matrix Renewables
Matrix Renewables is a Madrid-headquartered renewable energy platform created and backed by global alternative asset manager TPG and its $5 billion impact investing platform The Rise Fund. Upon the closing of this transaction, Matrix Renewables’ portfolio will be comprised of 1GW of operational, under construction, or near ready-to-build solar PV projects in Spain, Chile, Colombia, and Mexico. TPG is assembling a top tier management team of industry veterans to lead Matrix Renewables, and is actively looking for additional strategic opportunities to grow Matrix Renewables’ global portfolio. Matrix Renewables, and its underlying renewable energy projects, benefits from TPG’s extensive investing and business building experience, global network, and deep infrastructure and renewable energy expertise. For more information, visit matrix-renewables.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200630006140/en/
Contact information
Media
US
TPG and The Rise Fund
Ari Cohen
Director, External Affairs
415-743-1550
media@tpg.com
UK
Greenbrook
Alex Jones / Katarina Sallerfors
+44 207 952 2000
tpg@greenbrookpr.com
Spain
Estudio de Comunicación
Aida Prados
+34 915765250
aprados@estudiodecomunicacion.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Murata Launches World’s Smallest RF / Microwave Coaxial Connectors with a Switch, Cutting PCB Mounting Area by Approximately 40%29.10.2026 04:00:00 EET | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has begun mass production of the SWL series MM8330-2600RJ5 and MM8330-2600RK20, the world’s smallest RF / microwave coaxial connectors with a switch*. Measuring just 1.0 mm × 1.0 mm × 0.55 mm, the new connectors reduce PCB mounting area by approximately 40% compared with Murata’s previous SWJ series. When used with dedicated probes, the SWL series reduces its PCB footprint, including the keep-out area, by approximately 60% compared with Murata’s previous SWJ series. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261028261665/en/ [Murata Manufacturing Co., Ltd.] RF / microwave coaxial connectors with a switch As wireless devices incorporate more functionality, rising component counts are placing increasing pressure on limited PCB space. RF test connectors require not only mounting area for the connector itself, but also sufficient clearance around the component
FuriosaAI Secures $620 Million Series D to Meet Surging Enterprise AI Inference Demand and Accelerate Next-Gen Silicon29.10.2026 01:57:00 EET | Press release
FuriosaAI, an AI semiconductor company building sustainable, high-performance inference compute for data centers, today announced the completion of its $620 million (KRW 820 billion) Series D round, bringing its post-money valuation to approximately $2.9 billion. The financing marks a major milestone as FuriosaAI scales global commercial deployments of its RNGD AI inference accelerator. FuriosaAI will use the new capital to expand RNGD production, strengthen its software ecosystem, and accelerate development of its third-generation AI accelerator. International investors contributed a total of $110 million to the round, bringing deep expertise across AI semiconductors and computing infrastructure. U.S.-based Infinitum, an investment firm with extensive experience in the AI semiconductor sector, was the largest international investor in the round. Singapore-based QUDA Capital Partners also joined the round. Its Founder and Managing Partner, Charlie Foo, previously held senior leadership
IFF Declares Dividend for Fourth Quarter 202628.10.2026 22:15:00 EET | Press release
IFF (NYSE: IFF) announced that its Board of Directors has declared a regular quarterly cash dividend of $0.40 per share of its common stock, payable on January 13, 2027 to shareholders of record as of December 19, 2026. Welcome to IFF At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, and health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience.Learn more at iff.com, LinkedIn, Instagram and Facebook. © 2026 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20261028159928/en/
Transition Industries Signs Definitive EPC Agreement with Siemens Energy and Techint E&C for Pacifico Mexinol’s 210 MW Electrolyzer Facility28.10.2026 20:36:00 EET | Press release
Transition Industries LLC today announced that it has signed a definitive Engineering, Procurement and Construction (EPC) agreement with Siemens Energy and Techint Engineering & Construction (“Techint E&C”) for the approximately 210 MW electrolyzer facility at its Pacifico Mexinol project in Sinaloa, Mexico. The agreement is subject to customary conditions precedent, including the completion of project financing. The signing builds on the Front-End Engineering Design (FEED) contract announced in August 2025 and represents an important milestone in advancing the project’s renewable hydrogen production infrastructure from engineering toward construction. The facility will incorporate Siemens Energy’s Elyzer P-300 electrolyzer technology and produce renewable hydrogen to support the production of renewable fuels of non-biological origin (RFNBO) within Pacifico Mexinol’s planned 6,130-metric-ton-per-day ultra-low-carbon methanol complex. The technology plays a crucial role in achieving the
Belkin Introduces Infinity Folio for iPad mini, Available Now28.10.2026 20:21:00 EET | Press release
Belkin, a global leader in consumer electronics accessories trusted by more than 1 billion customers worldwide, today introduced Infinity Folio, a beautifully crafted protective case exclusively designed for iPad mini. The Infinity Folio is engineered to protect without compromise. A thin, lightweight and translucent back lets the new iPad mini design shine through with 360° of protection against drops of up to 2 meters*. The ingeniously engineered detachable cover transforms into a stand with multiple viewing angles. Whether it's streaming a favorite show, joining a video call, or reading an exciting book, Infinity Folio adapts to every moment. Designed specifically for iPad mini, Infinity Folio is available at launch through Apple stores and online in select markets worldwide, with additional retail availability by the end of the year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261028098950/en/ Belkin announces Infinit
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom