Hero Future Energies to Invest ₹11,000 Crore in Karnataka's Green Energy Projects

1 Dec 2024 , 06:30 PM

Hero Future Energies (HFEPL) has entered into a partnership with the Karnataka government to develop renewable energy and green hydrogen projects. The company will invest ₹11,000 crore, with projects scheduled to start in 2025-26 and running for two to three years.

These projects will provide 3,000 jobs in Karnataka, increasing local employment. The agreement was signed as part of the London Roadshows led by Karnataka Industries Minister M.B. Patil.

HFEPL is a part of Hero Group, and was founded in 2012 by Rahul Munjal, which aims at clean energy solutions. Hero MotoCorp is one of the largest two-wheeler manufacturers in the world, and is a flagship company of Hero Group. IFC and Kohlberg Kravis Roberts (KKR) are major investors for HFEPL.

Karnataka government has promised to provide all necessary permissions and incentives for smooth execution of the project. This partnership further strengthens Karnataka in terms of being a forerunner in green energy and sustainable development. The initiative reflects the commitment of the state toward investing and promoting clean energy solutions.