Hero Future Energies Plans $2 Billion Investment in Renewable Energy Expansion
Key Ideas
- Hero Future Energies (HFE) to invest over $2 billion in renewable energy expansion over the next two-and-a-half years.
- HFE taking advantage of declining battery prices to incorporate battery energy storage into projects alongside solar and wind technologies.
- Recently signed agreement with Envision Energy to include technologies like battery storage and green hydrogen, aiming to double its RE generation capacity.
- Partnered with Ohmium International to develop 1 GW of green hydrogen production facilities in India and Europe.
Hero Future Energies (HFE), the renewable energy unit of Hero Group, has announced plans to invest over $2 billion in expanding its renewable energy projects over the next two-and-a-half years. The company's global CEO, Srivatsan Iyer, mentioned that they aim to integrate multiple technologies such as solar, wind, and energy storage rather than focusing solely on solar or wind projects. HFE currently operates at a capacity of 1.8 GW, with plans to increase this to 2.6 GW in the coming years, showcasing significant growth in their renewable energy generation capacity. HFE has also ventured into green technologies by partnering with Envision Energy for wind turbine generators, battery storage, and green hydrogen solutions. While actively exploring the green hydrogen sector, HFE has decided not to enter electrolyzer manufacturing but has partnered with Ohmium International to develop 1 GW of green hydrogen production facilities in India and Europe. The company's strategic investments and partnerships demonstrate a positive outlook towards expanding renewable energy solutions and embracing innovative green technologies for a sustainable future.
Topics
India
Renewable Energy
Investment
Green Technology
Technology Integration
Partnerships
Solar
Wind
Battery Storage
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