GIC and TPG Rise Climate to acquire Techem Group for €6.7b

The parties expect to close the transaction in the first half of 2025.

Singapore's sovereign wealth fund, GIC, and New York-based TPG Rise Climate will acquire digital energy services platform Techem Group for €6.7b.

The parties will acquire the Techem from its previous majority owner, Partners Group, acting on behalf of its clients and co-investors, CDPQ and Ontario Teachers’ Pension Plan.

GIC and TPG Rise Climat will pay the purchase price in two instalments: one at the close of the transaction and the remaining in July 2027.

The parties expect to close the transaction in the first half of 2025.

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