IL&FS Mutual Fund Commits INR 125 Crore Investment in Hero Solar Energy
IL&FS Mutual Fund has committed an investment of INR 125 crore in Hero Solar Energy, a part of Hero Future Energies, to refinance debt and support the expansion of its renewable energy projects.
March 10, 2026. By Mrinmoy Dey
The investment will be structured through the issuance of secured debentures by Hero Solar Energy, enabling the deployment of long-term capital, the fund house stated.
This latest commitment builds on IL&FS Mutual Fund’s strong track record in the clean energy sector. To date, the fund has invested nearly INR 1,500 crore across renewable energy projects in India, delivering average returns of over 9.5 percent per annum.
Its renewable portfolio spans leading platforms and operating assets, including CleanMax, AD Hydro Power, Bhilwara Green Energy, BG Wind Power, Inox Wind, Polyplex Corporation, as well as hydro assets such as Kanchanganga Hydro Power, Bhilangana Hydro Power, Radiance Renewable Energy, and Ayana Renewable Power.
The investment in Hero Solar Energy further strengthens our diversified clean energy portfolio, the fund said.
Managed by IL&FS Infra Asset Management (IIAML), IL&FS Mutual Fund (Infrastructure Debt Fund) focuses on infrastructure financing and manages third-party capital from prominent Indian financial institutions, including banks, insurance companies, and pension/provident funds. The fund has a proven record of liquidity management, having returned about INR 2,000 crore to investors through timely redemptions, most recently in May 2025, the fund stated.
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