KKR, Hero mull $450 million investment in Hero Future Engines

20 Sep 2022 , 02:12 PM

KKR & Co. Inc. of the United States and Hero Group of India have agreed to invest $450 million (approx. Rs3,586.98 crore) in the motorbike maker’s renewable energy subsidiary, the firms said on Tuesday, as the Indian firm seeks to increase its renewable energy capacity.

Hero Future Energies (HFE) is an independent power producer with 1.6 GW of operational solar and wind projects.

With the help of this investment, HFE could be positioned for continued growth and expand its renewable energy capacity and capabilities across technologies such as wind, solar, green hydrogen, and battery storage.

This development comes after India discloses its aim to meet half of its energy demands from renewable sources, which include solar and wind, by 2030.

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