Hero Future Energies to raise $250 million via fresh equity issuance

Hero Future Energies (HFE) will issue fresh equity of about $250 million to fund its renewable energy projects outside India. The company is in talks with leading global institutional financers to raise capital.

With this round of funding, HFE will become a $1-billion clean energy firm.

Confirming the funding plans, Rahul Munjal, chairman and managing director, HFE, told Business Standard this round of funding was for the firm to reach a 5-Gw target in three years.

HFE has 500 Mw under construction in India and 2 Gw overseas. It has a commissioned capacity of 1.5 Gw in India.

“We are