Hero Future Energies and Karnataka Government Partner for Green Energy Revolution
Key Ideas
- Hero Future Energies and the Government of Karnataka have signed an MoU for an INR 11,000 crore investment in Renewable Energy, Green Hydrogen, and its derivatives.
- The projects are expected to create around 3,000 jobs in Karnataka and focus on transitioning towards decarbonization in industries like transportation and heavy engineering manufacturing.
- Both parties aim to leverage Karnataka's progressive policies and abundant renewable resources to lead the way in green innovation and sustainable industrial development.
- The collaboration reinforces Karnataka's position as a preferred investment destination and aligns with the state's preparations for the Global Investors Meet, Invest Karnataka 2025.
Hero Future Energies Private Limited (HFEPL) has partnered with the Government of Karnataka in India to make a significant investment of INR 11,000 crore in setting up projects related to Renewable Energy, Green Hydrogen, and its derivatives. This Memorandum of Understanding (MoU) aims to drive the green energy revolution in the state. The projects will span over two to three years, starting in 2025-26, and are anticipated to create approximately 3,000 job opportunities in Karnataka. HFEPL, a part of the Hero Group, emphasizes the importance of taking bold steps toward the next generation of energy solutions to tackle environmental challenges. Their focus is on decarbonizing industries such as transportation and heavy engineering manufacturing beyond just grid decarbonization. The company's leadership expressed confidence in leading India's transition into a significant exporter of clean energy, leveraging their expertise in green hydrogen. The collaboration with Karnataka, known for its progressive policies and renewable resources, provides an ideal environment for realizing their vision. The MoU signals Karnataka's commitment to attracting investments and promoting technological advancements, reinforcing its position as a preferred destination for sustainable industrial development. This strategic partnership aligns with Karnataka's efforts to create a competitive and digitally advanced industrial ecosystem in preparation for the Global Investors Meet, Invest Karnataka 2025.