Masdar invests $150 million in Hero Future Energies

IFC to pump in another $125 million in the company

Abu Dhabi Future Energy Company, Masdar will invest $150 million in Hero Future Energies, the renewable energy arm of BM Munjal Group, to fund its expansion in international markets. This would be followed by another round of strategic investment by International Finance Corporation (IFC) which will pump in $125 million in HFE.

IFC had invested $125 million in HFE in 2017. The company in a public statement said it is hopeful of having as much as 25 per cent of its growth to come from new international markets, including Europe and the UK, and Asia, including Bangladesh, Singapore, Vietnam, Philippines