Hero Future Energies to Invest INR 11,000 Crore in Karnataka's Green Energy Sector

Hero Future Energies Private Ltd. (HFEPL), a renewable energy arm of the Hero Group, signed a Memorandum of Understanding (MoU) with the Karnataka government  to invest INR 11,000 crore in renewable energy, green hydrogen, and its derivatives.

The initiative aims to bolster Karnataka’s leadership in green energy innovation and sustainable industrial development. HFEPL, established in 2012 and led by Chairman and Managing Director Rahul Munjal, plans to roll out the projects over two to three years starting in 2025-26. These initiatives are expected to create nearly 3,000 jobs in Karnataka. The investment will significantly contribute to decarbonisation efforts and position Karnataka as a hub for renewable energy and green hydrogen production.

“At Hero Future Energies, we recognise the need for bold and decisive action to tackle environmental challenges. Karnataka, with its progressive policies and abundant renewable resources, provides the ideal environment to realise our vision,” the company leadership stated during the MoU signing ceremony.

With a portfolio exceeding 6 GW of renewable energy projects, HFEPL is expanding its efforts beyond grid-connected solutions to focus on hard-to-abate industries such as transportation and heavy engineering manufacturing. The company is also leveraging its expertise to develop first-of-its-kind decarbonisation solutions for global markets.

Under the MoU, the Karnataka government will provide the necessary permissions, approvals, and incentives in accordance with State policies to ensure the timely implementation of these projects. M.B. Patil, Karnataka's Minister for Large and Medium Industries and Infrastructure Development, attended the signing ceremony alongside senior officials.

“This collaboration reinforces Karnataka’s position as a preferred investment destination for global leaders in green energy and highlights the state’s commitment to fostering sustainable industrial development,” the Minister remarked,

The agreement was formalised during the London Roadshows, a precursor to the 'Global Investors Meet, Invest Karnataka 2025'. This initiative underscores Karnataka’s efforts to attract global investments and foster technological advancements, creating a competitive and digitally advanced industrial ecosystem.

HFEPL’s ambitious projects will contribute to India’s growing role as a significant exporter of clean energy, aligning with the nation’s broader goals of achieving net-zero emissions and transitioning to a green economy.