Private equity firm Hg has agreed to acquire a majority stake in 3E, a renewable energy asset management and advisory platform, from ReNew and minority shareholders.
Founded more than 25 years ago, Brussels-based 3E provides software and technical consultancy to renewable energy operators. Members of the company’s founding and management team will roll over a portion of their equity alongside Hg.
The transaction also includes a minority investment from climate-focused firm Galvanize Climate Solutions. Financial terms were not disclosed, and the deal remains subject to customary closing conditions.
The investment will support 3E’s international expansion – particularly across the US – and fund bolt-on acquisitions. The firm also plans to expand its SynaptiQ platform by integrating physics-based models with artificial intelligence to manage solar, wind and battery storage portfolios.
Stef Goossens, chief executive of 3E, said: “For more than 25 years, 3E has helped owners, operators and investors understand how their renewable assets really perform. Backed by Hg, we will focus on AI-based revenue analytics for assets in operation and strengthen our US presence to accelerate global growth. Hg’s experience in scaling software businesses and in AI makes it the right partner for this next phase.”
Thomas Martin, partner at Hg, said: “As renewable capacity continues to grow, investors and operators are looking for solutions to help protect returns on increasingly complex portfolios. That is the ideal foundation for building new AI products that deliver measurable value to customers. We are excited to back Stef and the team as they invest in the product and scale internationally.”
Saloni Multani, partner at Galvanize, added: “We have followed 3E’s journey for several years and have been impressed by its differentiated, physics-based digital twin platform and the loyalty of its customers. The business has strong momentum, and we look forward to working alongside Hg and bringing our energy sector expertise and relationships to accelerate that growth, particularly in the US.”
