Hg has agreed to acquire a majority stake in 3E, a Brussels-based provider of renewable energy asset performance software and technical advisory services, from ReNew Energy Global and minority shareholders. ReNew disclosed the binding agreements on 22 October 2026 and Hg announced the deal on 26 October.
Why Hg (with Galvanize Climate Solutions as minority co-investor) is buying 3E (majority stake from ReNew and minority shareholders)
3E said Hg's backing would fund AI product development for its SynaptiQ platform, which monitors more than 50GW of assets, and international growth, particularly in the US. Hg will also support selective acquisitions.
“Backed by Hg, we are raising our ambition: to give our customers the industry’s leading systems of record and intelligence, in support of the energy transition.”
Deal terms and financing
ReNew said the full exit would realise about INR8.0bn (c.US$84m) in cash through sale proceeds and redemption of shareholder loans, against an investment of about INR4.7bn (c.US$56m). HgCapital Trust will invest about £6.1m alongside the Hg Mercury Fund. Galvanize Climate Solutions joins as a minority co-investor, and members of the founding and management team keep a stake.
Regulatory approvals and timing
The deal is subject to customary closing conditions and is expected to complete over the coming months.
Market context
ReNew, a Nasdaq-listed Indian clean-energy company, described the sale as part of its capital recycling strategy. It had been a 3E shareholder since December 2022.
