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Hero Future Energies Signs MoU with AP Government for INR 30,000 Crore

Hero Future Energies (HFE) has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh (AP) Government to invest INR 30,000 crore in developing large-scale renewable energy projects, with plans to deploy its technical and execution expertise to deliver these installations within a defined timeline.

November 14, 2025. By News Bureau

Hero Future Energies (HFE) signed a Memorandum of Understanding (MoU) with the Andhra Pradesh (AP) Government to develop renewable energy generation projects with a total capacity of 4 GW across Ananthapuramu, Kurnool, and Kadapa districts. The projects represent a proposed investment of INR 30,000 crore, reinforcing AP’s position as one of India’s leading renewable energy destinations.

The MoU was signed by Srivatsan Iyer, Global CEO, HFE, in the presence of N Chandrababu Naidu, Chief Minister (CM), Andhra Pradesh; K Vijayanand, IAS, Chief Secretary, Govt of AP, Dr M Kamalakar Babu, Vice Chairman and Managing Director (MD), NREDCAP, Government of AP and CM Saikanth Varma, IAS, CEO, AP Economic Development Board; and Rahul Munjal, Founder and CMD, HFE, and senior officials from both sides at Visakhapatnam, on the sidelines of the AP Government-CII Partnership Summit. Under the agreement, HFE will establish the renewable energy generation projects in two phases, creating over 15,000 direct and indirect jobs in total.

As part of the MoU, HFE will leverage its expertise in renewable energy technology, design, and implementation to set up the projects in a time-bound manner. The CM of Andhra Pradesh assured HFE Chairman that NREDCAP and APEDB will facilitate necessary assistance to enable project development, including coordination with relevant departments of the Government of Andhra Pradesh and the Union Government of India for required approvals and support. In response, Munjal informed the CM that HFE will invest an additional INR 15,000 crore in renewable energy projects in the state, taking the total value of the current proposed investments to INR 30,000 crore.

Speaking on the occasion, Munjal said, “This partnership marks more than an investment—it’s a step towards redefining how states and private enterprise can jointly drive India’s clean energy transition. Andhra Pradesh’s proactive policy environment and strong infrastructure make it a top priority investment destination."

The MoU will remain valid for a period of 12 months from the date of signing and aims to enable swift project commencement and investment facilitation in the renewable energy sector of Andhra Pradesh.

Srivatsan Iyer, Global CEO, Hero Future Energies, said, "The proposed projects are proving ground for complex renewable ecosystems that combine scale, innovation, and impact. Through this MoU, we are adding 4 GW of green capacity and also setting in motion a model of sustainable industrial growth that generates long-term employment, attracts ancillary industries, and strengthens the AP’s role in India’s decarbonisation journey.”