Hero Future Energies

Hero Future Energies will invest ₹30,000 crore to develop 4 GW of renewable capacity in Andhra Pradesh, with state support for clearances and phased project execution across three districts

For developer, there are pros and cons of integrating upwards into equipment manufacturing. The critical thing here is that India is now developing an ecosystem for solar module manufacturing capacity

Hero Future Energies has secured a Rs 1,024 crore funding from State Bank of India (SBI) to finance a hybrid project in Andhra Pradesh. The 60 MW project, which combines solar, wind and storage, and is contracted with SECI, is being built in Kurnool district of the southern state. Funding worth Rs 10,240 million (Rs 1,024 crore) has been secured through SPV (special purpose vehicle) Clean Solar Power Barmer. The funds will be utilised for the development and construction a 60 MW hybrid peak power project, the company said. This funding, which will have repayment spread over a period of 21 years, will help in timely completion of the said peak power project. The renewable energy arm of the Hero Group, HFE is backed by leading global investors such as International Finance Corporation (IFC) and KKR.

Indian companies are expanding their renewable energy capacity, with the government aiming to add at least 500 GW of clean energy by 2030 to reduce emissions

Wind energy solutions provider Inox Wind on Friday said it has secured a repeat order for 210 MW for its 3 MW wind turbine generators from Hero Future Energies (HFE). Additionally, Inox Wind will also provide post-commissioning multi-year Operations & Maintenance (O&M) services, a statement said. The order is for (IWL) Inox Wind Ltd's state-of-the-art 3 MW Wind Turbine Generators (WTGs), and the scope comprises equipment supply with certain add-on services, according to the statement. The WTGs will be supplied to HFE from Q3 FY25 onwards and will be installed in South India. Kailash Tarachandani, CEO of Inox Wind, said, "We are thrilled to announce a large repeat order of 210 MW from Hero Future Energies, a longstanding partner. This order reinforces the confidence in our 3MW WTGs, being one of the most efficient turbines in its class. The addition of this order further re-emphasises our growth outlook.

Hero Future Energies on Tuesday said it has signed two agreements with REC and PFC to develop green energy projects. The agreements were signed on the sidelines of the 4th G20 Energy Transition Working Group meeting, which concluded last week in Goa, Hero Future Energies said in a statement. "Hero Future Energies (HFE) has signed two memorandums of understanding (MoUs) with REC Ltd and PFC Ltd for infusion of Rs 3,100 crore each into HFE over the next five years," it said. The funds will be used to develop renewable projects across the country, including solar and wind for commercial and industrial customers, utility projects and green hydrogen derivatives, and will strengthen the company by ensuring the financial closure for future projects.

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