Hero Future Energies to Invest Rs 11,000 Crore in Green Hydrogen Projects in Karnataka
Key Ideas
- Hero Future Energies signs MoU with the Government of Karnataka to invest Rs 11,000 crore in renewable energy and green hydrogen projects.
- The investment aims to position Karnataka as a leader in sustainable industrial development and is expected to generate around 3,000 jobs in the state.
- The collaboration reinforces Karnataka's position as a preferred investment destination and demonstrates the state's leadership in driving green energy solutions.
- The initiative aligns with Karnataka's preparations for the Global Investors Meet, Invest Karnataka 2025, to create a competitive and digitally advanced industrial ecosystem.
Hero Future Energies Pvt Ltd (HFEPL) has signed a Memorandum of Understanding with the Government of Karnataka to invest Rs 11,000 crore in setting up projects in renewable energy, green hydrogen, and its derivatives in the state. The investment is part of HFEPL's efforts to expand decarbonization beyond the grid into industries like transportation and heavy engineering manufacturing. The projects, expected to start in 2025-26, aim to create nearly 3,000 jobs in Karnataka. The collaboration between HFEPL and the Karnataka Government aims to leverage Karnataka's progressive policies, abundant renewable resources, and focus on green innovation to lead the transition towards clean energy solutions. The MoU signing ceremony was attended by key officials, highlighting Karnataka's commitment to attracting global investments and promoting sustainable industrial development. This initiative is a significant step towards positioning Karnataka as a leader in sustainable industrial development and showcases the state's dedication to driving green energy solutions and technological advancements.