TPG’s global impact investing platform has supported technology-enabled clean-energy platform Palmetto with a $150m (€139m) investment.

TPG Rise, which is investing through its climate-investing strategy, has backed Palmetto to help expand the company’s software and technology platform.

Palmetto manages the end-to-end residential solar process with an operating platform that handles sales, design, engineering, permitting and fulfillment in the US.

Steven Mandel, business unit partner at TPG Rise Climate, said: “Our investment in Palmetto underscores our belief in the growth of residential clean-energy solutions over the coming decade in the US and Palmetto’s ability to leverage its unique platform to further expand its market position.”

Chris Kemper, founder and CEO at Palmetto, said TPG Rise Climate’s capital will help Palmetto “leapfrog some of our consumer product lines where we feel the market competition isn’t serving the consumer as optimally as they deserve”.

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