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
Takeda Announces New Assignments of Directors and Appointment of Julie Kim as Representative Director, President and CEO24.6.2026 10:05:00 EEST | Press release
In the final step of its 18-month CEO transition, Takeda (TOKYO:4502/NYSE:TAK) today announced that Julie Kim was officially appointed Takeda’s Representative Director, President and Chief Executive Officer. During the 150th Annual General Meeting of Shareholders, which took place in Osaka, Japan, shareholders elected Julie as a new internal director to the Board of Directors. Following the vote and conclusion of the meeting, the Board of Directors appointed her as Representative Director, President & CEO. Upon conclusion of the meeting, former president & CEO Christophe Weber retired from the Company and the Board. Chair of the Board of Directors Meeting, Masami Iijima, commented: “On behalf of Takeda’s Board of Directors, I would like to congratulate Julie Kim on becoming Takeda’s President and CEO. The Board of Directors is confident in Ms. Kim to drive executional excellence as Takeda launches a number of highly anticipated medicines and grows long-term shareholder value. The Board
Over Half of Consumers Will Pay More for Brands That Are Transparent About AI Data Use, New Usercentrics Research Finds24.6.2026 09:30:00 EEST | Press release
AI transparency has become a commercial differentiator, and it's reshaping where brand revenue is won — or lost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623804294/en/ Over half (52%) of consumers globally will pay more for brands that are transparent about how they use AI with their data at an average 7% premium. In Germany, that figure rises to 73% of consumers willing to pay a 9% premium, the highest of any market. The finding comes from the second annual State of Digital Trust 2026 Report, commissioned by Usercentrics, a leading data privacy technology company, and conducted by Sapio Research across 11,000 consumers in seven markets. The opportunity for brands that act is matched by the cost of inaction. Almost half (47%) of consumers surveyed have taken at least one action with a direct revenue consequence in the past six months because of concerns about how their data was being used in AI — canceling a subscri
LTM Joins Athena, a Chainguard-led Industry Coalition to Help Secure Open Source Software in the AI Era24.6.2026 09:30:00 EEST | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, has joined Athena, a new industry coalition led by Chainguard, focused on protecting open source software from the rising threat of AI-driven vulnerabilities. Athena brings together leading organizations across the global software ecosystem to address an urgent challenge. As frontier AI models advance, they are increasingly capable of identifying novel vulnerabilities in open source software at machine speed, often faster than traditional disclosure and patching processes can respond. As AI accelerates both software development and the discovery of vulnerabilities, the window between a flaw being identified and being exploited has narrowed sharply. Athena is designed to close this gap through shared intelligence, coordinated action, and pre-disclosure remediation across the ecosystem. The coalition supports vulnerability management end to end, from discovery and analysis to patching, layered mitigations, and upstr
Ilkari Expands European Sovereign Infrastructure Operations With Integration of DC North in Croatia24.6.2026 09:00:00 EEST | Press release
Ilkari, a multinational sovereign infrastructure provider, today announced the integration of DC North in Croatia into its European operations, expanding its sovereign infrastructure footprint across the European Union and strengthening its multi-region platform, which includes existing operations in Iceland and Colombia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260615555566/en/ DC North in Varaždin, Croatia, is now part of Ilkari’s expanding European sovereign infrastructure operations. The addition marks another step in Ilkari's ongoing build-out of EU-based sovereign infrastructure, as the company continues to scale its operational presence across regulated and sovereignty-focused markets. DC North becomes part of Ilkari's broader infrastructure ecosystem, which integrates domain services, colocation and sovereign cloud into a unified end-to-end stack spanning digital identity, infrastructure delivery and sovereign
Tigo Energy Predict+ Forecasting Platform Helps YASNO Keep Energy Flowing in Ukraine24.6.2026 07:00:00 EEST | Press release
Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy software solutions, today announced that Ukrainian electric utility, YASNO, is the latest enterprise-tier customer to deploy the Tigo Predict+ platform. The AI Energy platform empowers utility operators to adapt to real-world demand challenges as they balance renewable and baseload generation sources. Predict+ currently manages more than 650 GWh and delivers 97.5% forecast accuracy for utility customers. As the leading provider of electricity, gas, and energy-efficiency solutions in Ukraine, YASNO serves more than 2.5 million households in the Kyiv, Dnipropetrovsk, and Donetsk regions, as well as more than 64,000 business customers. YASNO uses the Predict+ platform in ways that go far beyond typical utility use cases, leveraging Tigo neural network-based AI to maintain grid stability amid highly variable weather and unpredictable infrastructure damage. The roll-out of Predict+ by
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