Business Standard

We will import energy models of the UK to India: Hero Future Energies CMD

HFE aims at conservative growth; favours quashing of reverse bidding in solar energy

Rahul Munjal
Premium

Rahul Munjal, HFE, Chairman & MD

Shreya Jai New Delhi
Hero Future Energies (HFE), the clean energy arm of Hero Group, became the first Indian green energy company to shift base to the UK, expecting to tap into global funds for future growth. The decision bore fruit last August when leading private equity fund KKR invested $450 million (along with parent company Hero Group) in HFE.

The fund infusion came just months after HFE reported a loss of $108 million in the financial year that ended in March 2022.

The company reported that its “networth has completely eroded owing to accumulated losses of $378 million, and the group’s current liabilities of $578

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 19 2023 | 8:51 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com