TPG Rise Climate Acquires Aurora Energy Research, Underscoring Rising Demand For Renewable Energy Market Data

TPG Rise Climate Acquires Aurora Energy Research, Underscoring Rising Demand For Renewable Energy Market Data

TPG Rise Climate, the sustainability-focused investment arm of global asset manager TPG has taken a majority stake in Aurora Energy Research, and existing investors CGE Partners and 22C Capital have reinvested. TPG’s majority stake reflects a bet that the ability to price, model and forecast clean energy markets will be a critical capability in the next phase of the global energy transition.

Founded in Oxford in 2013 and backed by UK-based CGE Partners (CGE) since 2020, Aurora Energy Research (Aurora) has evolved from a boutique advising businesses on renewable energy deals into a software platform for renewable energy transaction data. Today, it serves over 1,000 clients across 40+ markets and has 900+ employees working from offices in Europe, the Americas, Asia and Australia.

This deal matters because it highlights the growing demand for granular, high-quality energy market data in the short- to mid-term amid rising global power needs and rapid system decarbonization. The majority of economies across the globe are committed to rapid energy transitions (stay tuned for upcoming reports on Australia, the UK and the US’s energy transitions). This investment leaves TPG poised to capitalize on the next 5–10 years, as trillions of dollars flow into renewables, grids and low-carbon technologies, and the demand for forecasting, scenario analysis and market intelligence grows.

TPG has $251 billion in assets under management, giving Aurora access to an ecosystem that can support its expansion, particularly in high-growth markets such as Asia and the US. Moreover, the decision by existing investors – CGE, 22C Capital and Aurora CEO John Feddersen – to reinvest alongside TPG reflects their confidence in the firm’s shift from consulting to software.

TPG’s move taps into a broader industry shift: powerful analytics platforms are becoming mission-critical enablers for decision-makers across energy markets. This echoes similar investments – such as Veritas’s acquisition of Wood Mackenzie in 2023 – in a recognition that data-rich services underpin strategy and risk management in today’s energy landscape. As part of this shift, Verdantix is currently undertaking a benchmarking analysis of firms offering renewable energy procurement software, with the goal of identifying key differentiators in functionality, scalability and market fit. This research will build upon previous research into power purchase agreements (see Verdantix Market Overview: Demystifying Corporate Power Purchase Agreements).