US investor KKR and Hero Group have agreed to invest $450 million in the latter’s renewables arm Hero Future Energies (HFE), to drive its growth in the renewables and new energy markets.
“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.
Through its range of solutions, HFE will also look to support companies in their efforts to decarbonize and transition towards sustainable energy sources to achieve their net zero emission goals.
Founded in 2012, Hero Future Energies is India’s leading independent power producer with a diversified portfolio of 1.6 GW of operating solar and wind projects.
KKR will work with HFE’s management team and existing investors, including the Hero Group and IFC, to help HFE achieve its next growth phase.
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