Hero Future Energies will invest US $3.6 billion in Andhra Pradesh for renewable energy

Indian independent power producer Hero Future Energies plans to invest US $3.6 billion in renewable energy in Andhra Pradesh, India. The company signed a memorandum of understanding with the Government of Andhra Pradesh to establish solar and wind energy facilities in the region.

In the next three to five years, IPP will target commercial and industrial markets, utility scale projects, and green hydrogen derivatives. This marks a further step forward for the company after receiving a $450 million investment from private equity firm KKR in 2022 to support its renewable energy expansion and enter new markets by 2025.

PV Tech has contacted Hero Future Energy to obtain detailed information on the production capacity targets developed by IPP in this investment. Arun Tripathi, the head of HFE's energy business, said that we are very pleased to collaborate with the government. AP's Sustainable Development Journey. HFE plan makes full use of the favorable policy environment of renewable energy industry in Andhra Pradesh to help the state become a leading renewable energy center in China.

IPP was established in 2012 and operates in India, Bangladesh, Vietnam, Singapore, Ukraine, and the United Kingdom. Currently, it has 1.6GW of operating assets in the utility and commercial markets.