Hero Future Energies to Setup Hybrid RE Projects, Green Hydrogen Manufacturing Facilities in Karnataka by Investing Rs 20,000 Cr

Hero Group’s renewable energy arm Hero Future Energies (HFE) has recently entered into a Memorandum of Understanding (MoU) with Karnataka Government to invest upto Rs 20,000 crore in the state.

As per the agreement, the independent power producer (IPP) is planning to develop hybrid renewable energy (RE) projects along with green hydrogen manufacturing facilities in the state.
 
The company has announced “the signing of an MoU with the Government of Karnataka per which it will invest a sum of Rs. 20000 Cr. for setting up hybrid RE projects and Green Hydrogen manufacturing facilities across the state.”
 
It further said “Karnataka continues to be a focus state for HFE and we are happy to be an active partner in the state’s Net Zero journey and ensuring a greener future.”
 
Earlier in September, global investment firm KKR and Hero Future Energies signed the definitive agreements under which KKR and the Hero Group would invest USD 450 million in the company.
 
The company said that this investment will position HFE for continued growth and support its efforts to expand its renewable energy capacity and capabilities across technologies such as solar, wind, battery storage, and green hydrogen, and into new markets over time. Through its range of solutions, HFE will also look to support companies in their efforts to decarbonize and transition towards sustainable energy sources to achieve their net zero emission goals.
 
Founded in 2012, Hero Future Energies is having about 1.6 GW of operating assets across utility and commercial & industrial sectors. The company is planning to invest progressively in grid connected solar and wind, rooftop sectors, energy storage and green hydrogen over the next few years both in India and internationally.