India’s Hero Future Energies plans to invest $20 billion in renewables over 6 years – EQ
In Short : Hero Future Energies plans to invest $20 billion in renewable energy projects over the next six years. The company aims to significantly boost its clean energy portfolio by expanding in areas such as solar, wind, green hydrogen, and energy storage. This investment is aligned with India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030 and reinforces Hero’s commitment to driving the energy transition and supporting global sustainability efforts.
In Detail : Indian conglomerate Hero Group’s power production unit plans to invest $20 billion over the next six years to scale up its capacity by nearly 16 times, chairman Rahul Munjal told Reuters at an industry event on Tuesday.
Larger rival Tata Power announced investments worth $9 billion to quadruple its renewable capacity, with similar pledges coming from Reliance Industries and Adani Green Energy at renewable energy conference RE-Invest, held in the western Indian state of Gujarat.
Hero’s capacity additions will go towards producing wind and solar energy as well as battery storage technologies, and will be funded internally and through a mix of debt and equity, Munjal said.
The company, which already owns renewable energy projects in India, Ukraine and Vietnam, expects 3.4 GW of capacity, currently under construction, to be commissioned in the next two years.
