Private equity firm TPG Growth-managed TPG The Rise Fund acquired approximately 1 GW of solar photovoltaic projects from China-based Trina Solar Co. Ltd., and launched its Matrix Renewables platform.

The new Madrid-based renewable energy platform will operate, acquire and develop solar and clean energy infrastructure projects globally.

The projects included in the transaction are operational, under construction or in late stage development nearing ready-to-build status across Spain, Chile, Colombia and Mexico. They will comprise the first solar photovoltaic projects within Matrix Renewables' portfolio.

Terms of the transaction were not disclosed.