KKR, Hero Group to invest $450 million in Hero Future Energies


From pv magazine India

US investor KKR and Indian conglomerate Hero Group have agreed to jointly invest $450 million in Hero Future Energies (HFE), an Indian solar developer part of the Hero Group itself.

“This investment will 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,” stated the two companies in a joint statement. 

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Founded in 2012, Hero Future Energies is an independent power producer with a diversified portfolio of 1.6 GW of operating solar and wind projects.

“KKR’s investment will drive Hero Future Energies’ growth in the rapidly growing renewable energy markets domestically and globally, as well as in new technologies such as battery storage, solar-wind hybrid projects, round-the-clock power, and green hydrogen, among others,” said Hero Future Energies CEO, Srivatsan Iyer. 

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