ReNew exits renewables analytics platform 3E in $84M sale to Hg
What's the deal? ReNew Energy Global has signed binding agreements to sell its controlling stake in 3E, a European renewable energy analytics platform, to private equity firm Hg. The transaction is a full exit expected to realise about $84 million in cash, comprising sale proceeds and redemption of shareholder loans.
What each side brings: 3E is described in ReNew's filing as "one of Europe's leading renewable energy asset performance management and analytics platforms." Hg is a London-headquartered firm specialising in software and technology-enabled services buyouts across Europe and North America.
The returns: ReNew invested roughly $56 million in 3E, making the exit a notable gain on a non-core holding. The company filed the deal with the US Securities and Exchange Commission via a Form 6-K on October 23, 2026, having signed the agreements a day earlier.
Why now? ReNew framed the sale as "part of ReNew's capital recycling strategy." The NASDAQ-listed company has said it aims to sell up to 1 GW of operating projects annually while commissioning around 3 GW a year, using proceeds to fund growth and cut debt.
The bigger picture: The 3E sale is one of several disposals. ReNew has also agreed to sell a 1.4 GW operating solar portfolio to CESCDealroom has a profile for this one. Try Dealroom → and a 117.5 MW solar project to Technique SolaireDealroom has a profile for this one. Try Dealroom →.
The signal: The deal is small relative to ReNew's power-asset sales, but it reinforces a clear direction: monetise mature or peripheral holdings and redeploy capital into core growth. For Hg, it marks continued appetite for software platforms serving the energy transition.
Read more: kalkine.com
Image credit: Thomas Nugent
