Solar developer Intersect gets $750 mln investment from private equity firm TPG [Financial Post (Toronto, Ontario, Canada)]
First Solar, Inc. (FSLR)
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Source: Financial Post
Advertisement The announcement from TPG is part of the firm’s push into climate change and clean energy investing on behalf of clients that include large pension funds and insurance companies seeking to do more for the environment. The climate fund’s executive chairman is former U.S. Treasury Secretary Henry Paulson, and earlier this year it said it had raised $7.3 billion. Intersect Power LLC, which is based in San Francisco, said the new funding will help expand its portfolio of clean energy projects to more than 8 gigawatts – about enough electricity to power 1.5 million homes – from the current 2.4 GW. It will also allow the company to pursue new businesses like green hydrogen and wind energy, its chief executive said. Hydrogen is considered “green” when it is produced using renewable energy such as solar. “This is an acknowledgement that a physical infrastructure company, people that put steel in the ground, can also deliver growth,” Intersect CEO Sheldon Kimber said in an in
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