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Hero Future Energies and Govt of Karnataka Sign MoU to Invest Rs 20,000 Crore for Hybrid RE, Green Hydrogen Projects

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Leading renewable energy company Hero Future Energies (HFE) and the Government of Karnataka signed a Memorandum of Understanding (MOU) to invest about Rs 20,000 crore in the State to set up a Green Hydrogen & Renewable Energy projects.

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Karnataka continues to be a focus state for HFE and we are happy to be an active partner in the state’s Net Zero journey and ensuring a greener future, said the company.

Earlier in the year, Hero Future Energies and Ohmium International, a company specialized in the design, manufacture, and deployment of PEM Electrolysers, have announced a strategic partnership to develop and build 1000 MW of Green Hydrogen production facilities in India, the UK and Europe.

By coupling Ohmium’s hydrogen expertise with HFE’s knowledge and experience as a Renewable Energy developer, we will meet and perhaps even exceed our ambitious target of 1000 MW”, Srivatsan Iyer, Global CEO, Hero Future Energies had said.

In the month of September KKR and Hero Group had invested $450 mn in Hero Future Energies. This investment would position HFE for continued growth and support its efforts to expand its renewable energy capacity and capabilities across technologies such as solar, wind, battery storage, and green hydrogen, and into new markets over time, the company had stated in an official statement.

Also Read  Sprng Ojas, Tata, ReNew and O2 Power Win RUMSL Tender for 750 MW Wind-Solar Hybrid Power

At the recent Investor Summit, Karnataka has attracted huge investment in Renewable Energy

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