{"id":7389,"date":"2022-07-21T14:37:31","date_gmt":"2022-07-21T22:37:31","guid":{"rendered":"https:\/\/solarpowerinvestor.com\/?p=7389"},"modified":"2022-07-21T14:37:31","modified_gmt":"2022-07-21T22:37:31","slug":"intersect-power-receives-750-million-in-capital-from-tpgs-global-investment-platform","status":"publish","type":"post","link":"https:\/\/solarpowerinvestor.com\/intersect-power-receives-750-million-in-capital-from-tpgs-global-investment-platform\/","title":{"rendered":"Intersect Power Receives 750 Million in Capital from TPG’s Global Investment Platform"},"content":{"rendered":"

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Investment Overview<\/span><\/h1>\n

On June 28th, Intersect Power <\/a><\/span>received 750M in capital from TPG’s<\/a> global investment platform. The investment was led primarily by TPG Rise Climate, with capital raised by Climate Adaptive Infrastructure LLC and Trilantic Energy Partners<\/a> North America. The investment will help the U.S. generate and store renewable clean energy<\/span>. <\/span><\/p>\n

\"\"\u201cOur partnership with TPG Rise Climate, CAI and Trilantic further fuels our collective pursuit to accelerate<\/span> the deep decarbonization of our economy<\/span><\/a>, build American energy security, and deploy the billions of dollars of hard assets required to solve the climate crisis,\u201d <\/span><\/p><\/blockquote>\n

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Sheldon Kimber<\/em><\/strong><\/h6>\n
Intersect CEO<\/em><\/strong><\/h6>\n

The current portfolio has 2.2 GWp of solar photovoltaic plants and 1.4 GWh storage under construction in multiple locations. The late-stage portfolio should consist of over 8.5 GWp and 8 GWh. The assets are expected to be put in place by next year. Intersect Power also aims to reach 1 GW of green hydrogen production. After the investment, Intersect Power will give board seats to TPG partners Ed Beckley, Steven Mandel, and Maryanne Hancock. Bill Green of CAI<\/a> and Glenn Jacobson of Greenbelt Capital Partners<\/a> will also be given seats.\u00a0<\/span><\/p>\n

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About TPG Rise Fund<\/span><\/h1>\n

T<\/span>PG Rise Investments was initiated in 2021 to help TPG create a portfolio of companies that can enable carbon aversion in a quantifiable way. <\/span>TPG Founding Partner and Executive President Jim Coulter is Coping Partner of TPG Rise Climate and previous U.S. Treasury Secretary Hank Paulson represents TPG Rise Climate’s Executive Chairman. TPG has several sectors that they focus their investments on.\u00a0<\/span><\/p>\n