Add-on Acquisition • Renewable Energy

ReNew Power Acquires Climate Connect Technologies

On June 4, 2020, ReNew Power acquired renewable energy company Climate Connect Technologies

Acquisition Context
  • This is ReNew Power’s 2nd transaction in the Renewable Energy sector.
  • This is ReNew Power’s 2nd transaction in India.

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M&A Deal Summary

Date June 4, 2020
Target Climate Connect Technologies
Sector Renewable Energy
Buyer(s) ReNew Power
Deal Type Add-on Acquisition

Target Company

Climate Connect Technologies

New Delhi, India
Climate Connect Technologies builds data platforms with AI & ML driven models and algorithms by working at the intersection of energy, data science, software technology, and AI & ML. The company provides analytics, forecasting, and automated decision making for customers in energy markets worldwide including India, China, Europe, and the USA. Climate Connect was formed in 2010 and is based in New Delhi, India.
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Buyer Overview 1

Buyer

ReNew Power

Gurgaon, India

Category Company
Founded 2011
Sector Renewable Energy
Employees4,336
Revenue 81.3B INR (2024)
DESCRIPTION

ReNew Power is an independent power producer (IPP) with an expanding portfolio of assets, delivering cleaner, smarter energy choices and reducing India’s carbon footprint. ReNew Power has utility-scale wind and solar energy projects as well as renewable energy projects catering to the energy requirements of commercial and industrial customers while helping reduce India’s carbon footprint. ReNew Power was founded in 2011 and is based in Gurgaon, Haryana.


Deal Context for Buyer #
Overall 2 of 2
Sector: Renewable Energy 2 of 2
Type: Add-on Acquisition 2 of 2
Country: India 2 of 2
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-02 Ostro Energy Pvt

New Delhi, India

Ostro is a wind energy business with plans to build 800MW of wind projects over the next 4 years. Ostro will construct green field projects but at the same time will be open to acquiring operating projects that meet its performance standards. Ostro has signed up 100 MW of Wind Projects so far and continues to build its pipeline to achieve its business plan target.

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