(Reuters) - Buyout firm TPG's climate investment arm will acquire Altus Power ( AMPS ) for $2.2 billion in an all-cash transaction, the provider of solar power to commercial property owners and residential homes said on Thursday.

The company said TPG Rise Climate Transition Infrastructure will acquire Altus for $5 per share.

That, Altus said, was a 66% premium to its stock's closing price on October 15, the last trading day before the company said it would review strategic alternatives.

Altus's shares were trading at $4.89 in premarket trading, compared with its closing price of $3.83 on Wednesday.

Reuters had reported about the deal in late December.