Hero Future Energies to Invest Rs 11,000 Crore in Renewable Energy and Green Hydrogen Projects 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.
- The investment is expected to create around 3,000 jobs in Karnataka over two to three years, starting in 2025-26.
- The company aims to lead the transition towards clean energy and decarbonization, leveraging its expertise in green hydrogen and focusing on sustainable industrial development.
- The collaboration demonstrates Karnataka's commitment to green energy solutions, attracting global investments and fostering technological advancements.
Hero Future Energies Private Limited (HFEPL) has signed a Memorandum of Understanding (MoU) 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. Part of the Hero Group, HFEPL aims to expand its decarbonization efforts and generate around 3,000 jobs in Karnataka through these initiatives. The company's leadership highlighted the importance of addressing environmental challenges and leading the transition towards clean energy, particularly in industries like transportation and heavy engineering manufacturing.
The collaboration with the Karnataka Government is set to facilitate necessary permissions, approvals, and incentives for the projects to be established under the state's existing policies and regulations. This partnership reinforces Karnataka's position as an attractive investment destination and showcases its leadership in promoting green energy solutions and sustainable industrial development. The MoU signing took place during the London Roadshows, indicating Karnataka's commitment to attracting global investments and advancing technological progress. This initiative aligns with the state's preparations for the Global Investors Meet, Invest Karnataka 2025, with a focus on creating a competitive and digitally advanced industrial ecosystem.