Business Wire

TPG Launches Matrix Renewables with The Rise Fund’s Acquisition of 1GW of Solar PV Projects from Trina Solar

Share

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

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

Bentley Systems’ Acceleration Fund Announces Launch of The Cohesive Companies, Advancing Infrastructure Digital Twins to Improve Asset Performance13.7.2020 17:01:00 EESTPress release

Bentley Systems, Incorporated, a leading global provider of comprehensive software and digital twins services for advancing the design, construction, and operations of infrastructure, today announced that its Acceleration Fund has launched The Cohesive Companies, a wholly owned subsidiary, anchored by the acquisition of Atlanta-based Cohesive Solutions. The new business venture will include the services team from Bentley’s AssetWise business and the offerings of Bentley, Cohesive, and IBM’s Maximo to support the digital transformation of infrastructure owner-operators. The Cohesive Companies will act as a digital integrator to help infrastructure asset owners upgrade their enterprise environments to leverage digital twins—digital representations and simulations of a physical asset, synchronizing digital context (current existing conditions), digital components (engineering content), and digital chronology (lifecycle change management). Infrastructure digital twins can empower asset ope

Rimini Street Appoints Gerard Brossard as COO13.7.2020 16:00:00 EESTPress release

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced the appointment of Gerard Brossard to the newly created role of executive vice president and chief operating officer (COO). Brossard is responsible for Rimini Street’s global field operations and the global sales and success of the Company’s Support and Application Management Services for Oracle and SAP products. Brossard reports directly to Rimini Street CEO, Seth A. Ravin. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200713005192/en/ Rimini Street Appoints Gerard Brossard as COO (Photo: Business Wire) New COO Brings Proven Capabilities to Support Accelerating Company Growth Prior to joining Rimini Street, Brossard served as executive vice president and general manager of Rackspace’s Global Solutions and S

Project Management Institute Announces List of 50 Next Generation Leaders to Watch13.7.2020 16:00:00 EESTPress release

Project Management Institute (PMI) today announced its first annual Future 50 list, which features the 50 next generation leaders that are creating, building, and transforming the world through notable projects. The 50 young standout project leaders highlighted in the specially dedicated July/August issue of PM Network® magazine represent the wave of change and talent around the globe—a youthquake that will reshape the future and accelerate innovation in the here and now. Honorees include groundbreaking achievements from people across a variety of industries and countries, including Director Greta Gerwig, Laura Jones from the Special Olympics and Miishe Addy from Jetstream Africa. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200713005075/en/ According to PMI’s recent Pulse of the Profession ® report, only 40 percent of organizations say they prioritize attracting and hiring the young generation of project professionals. Bu

Become a Pet Trainer in the Newest Mabinogi “P.E.T.” Update Arriving on July 1613.7.2020 16:00:00 EESTPress release

Mabinogi, Nexon’s free-to-play fantasy MMORPG will be receiving the delightful new “P.E.T.” update on July 16! Following the introduction of Mabinogi’s exciting furry pets in the “My Little Pet” update, the World of Erinn is changing with the addition of more powerful Fynn Pets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200713005083/en/ Mabinogi P.E.T. (Graphic: Business Wire) While the recent “My Little Pet” update expanded activities for pets embarking on expeditions to explore the world of Erinn, the P.E.T. update challenges players with a new Pet Training talent to discover the Power of the Fynn and set out to unlock stronger Fynn Pets. To unlock Fynn Pets, players need to sync their main pet with other pets using Fynn Sync. The Fynn Pet will receive the Power of the Fynn, increasing a pet’s max level, inventory, summoning time and more! With the update, players can also defeat monsters to obtain Fynni Gems and bloo

Aeolus Announces Appointment of Aditya Dutt as Partner and President13.7.2020 15:00:00 EESTPress release

Aeolus Capital Management Ltd. (“Aeolus”) today announces that Aditya Dutt will be appointed a Partner and President of Aeolus and will be elected as a member of the Aeolus Board, following a period of gardening leave from RenaissanceRe Holdings (“RenaissanceRe”), his current employer. Mr. Dutt is currently Senior Vice President of RenaissanceRe and President of Renaissance Underwriting Managers, Ltd. In these capacities, Mr. Dutt leads RenaissanceRe’s Insurance Linked Securities and third party capital management businesses, including DaVinci Re, Top Layer Re, Upsilon Fund, Medici Fund, Vermeer Re and the Langhorne Re joint venture with the Reinsurance Group of America. Additionally, Mr. Dutt also manages RenaissanceRe’s portfolio of strategic investments. Mr. Dutt was previously RenaissanceRe’s Corporate Treasurer and Head of Investor Relations. Prior to joining RenaissanceRe, Mr. Dutt was an investment banker at Morgan Stanley and Salomon Brothers. Since early 2017, Aeolus has been

New Data to Be Presented at the ISTH 2020 Virtual Congress Demonstrating Octapharma’s Commitment to Patients With Bleeding Disorders13.7.2020 14:37:00 EESTPress release

Octapharma announced today that new research findings from its haematology portfolio will be presented at the upcoming International Society on Thrombosis and Haemostasis (ISTH) Virtual Congress, taking place on 12–14 July 2020. The NuProtect study (NCT01712438) investigated the immunogenicity, efficacy and safety of Nuwiq® (simoctocog alfa) in 108 previously untreated patients with haemophilia A. The final results of the study showed a cumulative incidence of high-titre anti-FVIII inhibitors of 17.6%. Patients who completed the NuProtect study were offered participation in a long-term extension study (NCT01992549). The results of the extension study will be presented for the first time at ISTH 2020. In patients who develop inhibitors, immune tolerance induction (ITI) with repeated FVIII administration is the only proven approach to eradicate inhibitors. Three posters will be presented at ISTH 2020 reporting on the success of ITI with two of Octapharma’s FVIII products, octanate® and N

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