Gurugram, India - India’s leading renewable energy company, ReNew Power has signed a definitive agreement to acquire Regent Climate Connect Knowledge Solutions Pvt Ltd (Climate Connect), a digital-analytics, software development, artificial intelligence (AI), and machine learning (ML) company, specializing in the power markets domain in the country.
ReNew’s acquisition of Climate Connect is expected to not only add to its digital capabilities, but also allow it to offer a suite of digital product offerings to customers across the energy value chain.
The latter will be operating as an independent subsidiary that continues to focus on building a global team, world-class data integrity and software development processes, as well as business development activities.
Sumant Sinha, CMD, ReNew Power, said, “As distribution companies look to tighten operations, find efficiencies, and reduce AT&C losses, digitalization will play a key role and Climate Connect is well-positioned to service this important market.”
Nitin Tanwar, CEO & Co-founder, Climate Connect, said, “We believe that the company’s acquisition by ReNew Power will help us create long-term value for our existing distribution utility and IPP customers and provide us the much-needed scale for the next leg of our journey.”