Reinsurer Munich Re’s acquisition of RenRe Energy Advisors (Real), the weather risk management arm of Bermuda-based reinsurer Renaissance Re, is likely to lead to the development of new hedging tools for renewable energy firms, according to Bill Windle, its Houston-based managing director.

On September 3, Munich Re announced it had entered into an agreement with Renaissance Re to buy Real for an undisclosed amount. The transaction, which is subject to regulatory approval, is expected to close in