Hero Future Energies to Invest Rs 11,000 Crore in Renewable Energy and Green Hydrogen in Karnataka
Key Ideas
- Hero Future Energies signed an MoU with the Government of Karnataka to invest Rs 11,000 crore in renewable energy and green hydrogen projects, aiming to create nearly 3,000 jobs.
- The projects will focus on decarbonization efforts in hard-to-abate industries like transportation and heavy engineering manufacturing, leveraging the state's renewable resources and green innovation focus.
- Karnataka government will support the projects by providing permissions, incentives, and approvals, reinforcing the state's position as a preferred investment destination for green energy solutions.
- This collaboration exemplifies Karnataka's commitment to attracting global investments and driving sustainable industrial development, aligning with the state's preparations for the Global Investors Meet, Invest Karnataka 2025.
Hero Future Energies Private Limited (HFEPL) has signed a Memorandum of Understanding (MoU) with the Government of Karnataka in India to invest Rs 11,000 crore in setting up projects related to Renewable Energy, Green Hydrogen, and its derivatives. The investment will span over two to three years starting in 2025-26 and is expected to generate around 3,000 jobs in Karnataka. HFEPL, a part of the Hero Group, with a renewable energy portfolio exceeding 6 GW, aims to expand its decarbonization efforts into sectors like transportation and heavy engineering manufacturing. The company's leadership emphasized the importance of taking bold steps towards the next generation of energy amidst environmental challenges. By leveraging expertise in green hydrogen, HFEPL aims to pioneer decarbonization solutions globally. The MoU signifies Karnataka's commitment to supporting green energy initiatives, with the government providing facilitation for permissions, approvals, and incentives under prevailing policies. This collaboration reinforces Karnataka's status as an attractive investment destination, highlighting the state's focus on green energy solutions and sustainable industrial development. The signing of the MoU during the London Roadshows showcases Karnataka's dedication to attracting global investments and fostering technological advancements, in line with preparations for the Global Investors Meet, Invest Karnataka 2025.
Topics
India
Renewable Energy
Sustainability
Investment
Job Creation
Infrastructure Development
Government Partnership
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