TPG's climate arm in talks to buy Altus Power, Reuters reports

Investing.com -- TPG Rise Climate, the climate investment branch of buyout firm TPG, is reportedly in discussions to acquire Altus Power.

Reuters reported on Monday that the deal could be signed in the coming weeks if talks between two parties are successful.

Altus Power s hares are up over 13% on Monday. It is one of the largest owners of commercial-scale solar plants in the United States.

Altus Power, based in Stamford, Connecticut, provides solar power to commercial property owners and residential homes.

Back in October, the company had announced it was working with advisers to explore various options, including a potential sale.

Currently, it has a market value of about $650 million.

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Source: Investing.com