ReNew Power acquires AI start-up Climate Connect
The acquisition is expected to strengthen ReNew Power’s ongoing digital and analytics initiative.
Clean energy firm ReNew Power acquired Climate Connect, an artificial intelligence and machine learning start-up, to get access to energy management services. The acquisition is expected to strengthen the ReNew Power’s ongoing digital and analytics initiative which aims to leverage its data, and optimise decision making across business operations.
Sumant Sinha, Chairman and Managing Director, ReNew Power, said: “The first wave of growth in the renewable energy industry came through the addition of physical assets on the ground, the next wave will come through the development of digital products that help optimise power flow from generators to distribution companies to customers.”
“As discoms look to tighten operations, find efficiencies, and reduce aggregate technical and commercial losses, digitalisation would play a key role,” he added.
Climate Connect specialises in the power markets domain in India. It has so far deployed software solutions for 6 GW of renewable generation projects across Asia and has 25 GW of load portfolio under power distribution utilities.