Hero Group and global investment firm KKR would invest $450 million in Hero Future Energies, the renewable energy arm of the Hero group. Founded in 2012, Hero Future Energies has a wide portfolio of solar and wind projects.
With this investment, Hero Future Energies can expand its renewable energy portfolio that includes solar, wind, battery storage, and green hydrogen. The firm also has plans to reduce carbon emissions by 1 billion tonnes by 2030. Thus, Hero Future Energies would contribute to the nation’s target of generating half the country’s power from non-fossil fuel sources by 2030. The bigger aim is to hit the net-zero emission target by 2070.
KKR has a renewable energy platform, Virescent Infrastructure, to own and operate renewable assets in India. In 2022, it launched Aster Renewable Energy to develop, build, and operate solar and energy storage projects in Taiwan and Vietnam
