HFE aims to invest $3.2 billion in renewable energy in India
Under the agreement, Hero Future Energies (HFE) will establish the renewable energy generation projects in two phases, creating over 15,000 direct and indirect jobs in total in the southern Indian state of Andhra Pradesh.
Hero Future Energies (HFE), the renewable energy arm of India’s Hero Group, has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop renewable energy generation projects with a total capacity of 4 GW across Ananthapuramu, Kurnool and Kadapa districts of the southern Indian state.
The projects represent a proposed investment of ₹300 billion (about USD 3.2 billion), HFE said in a media release.
Under the agreement, HFE plans to establish the renewable energy generation projects in two phases, creating over 15,000 direct and indirect jobs in total.
As part of the MoU, HFE said it would leverage its expertise in renewable energy technology, design and implementation to set up the projects in a time-bound manner.
“This partnership marks more than an investment — it’s a step towards redefining how States and private enterprise can jointly drive India’s clean energy transition,” said Rahul Munjal, Founder and CMD, Hero Future Energies. “Andhra Pradesh’s proactive policy environment and strong infrastructure make it a top priority investment destination.”
“The proposed projects are proving ground for complex renewable ecosystems that combine scale, innovation, and impact,” said Srivatsan Iyer, Global CEO, Hero Future Energies. “Through this MoU, we are adding 4 GW of green capacity and also setting in motion a model of sustainable industrial growth that generates long-term employment, attracts ancillary industries, and strengthens the AP’s role in India’s decarbonisation journey.”
The MoU will remain valid for a period of 12 months from the date of signing and aims to enable swift project commencement and investment facilitation in the renewable energy sector of Andhra Pradesh.
HFE, which is headquartered in London, has a global portfolio of 7.2 GWp of renewable energy (RE) assets plus 2.3 GWh of BESS capacity across India, Ukraine, Vietnam and the UK, including both operating and under-development projects.
