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Hero Group, KKR Invest $450 Million in Hero Future Energies

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  • hero group and KKR announced a $450 million investment in the company’s renewable energy arm, Hero Future Energies.
  • Place this investment, HFE is valued at $1 billion.
  • HFE currently has an operational renewable energy capacity of 1.6 GW and operates in five countries except India.

Hero Group and US private equity firm KKR have announced a $450 million (approximately ₹3,600 crore) investment in Hero Future Energies (HFE), the company’s renewable energy arm.

Hero Future Energies is a 10-year-old company with a presence in India, Bangladesh, Vietnam, Singapore, Ukraine and the UK. It offers a wide range of renewable energy technologies ranging from solar, wind, battery storage and green hydrogen. It currently has 1.6 GW of solar and wind projects operational.

“HFE’s clean energy solutions play an important role in helping businesses to become decarbonised as energy demand continues to grow. We look forward to working closely with HFE’s management team and existing investors, including the Hero Group and IFC, to help HFE reach its next stage of growth and contribute to energy transition efforts in India and globally,” he said. Hardik Shahpartner at KKR.

KKR is not the first to invest in HFE. Previously, International Finance Corporation and Abu Dhabi Future Energy (aka Masdar) jointly acquired a 20% stake in HFE for $150 million, valuing the company at $750 million. KKR’s investment boosts HFE’s valuation to $1 billion.

“With this investment, Hero Future Energies will work to accelerate India’s energy transition and contribute to the Indian government’s goal of generating half of the country’s power from non-fossil fuels by 2030,” the organization said. . Rahul Munjalchairman and general manager of HFE.

Since 2011, KKR has invested more than $15 billion in several renewable energy companies, with an operational capacity of 23 GW at the end of 2021.

HFE says it plans to use the $450 million investment for grid-connected solar and wind projects, in addition to energy storage and green hydrogen solutions.

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