Hero Future Energies Private Limited (HFEPL) has signed a Memorandum of Understanding (MoU) with Karnataka government on November 30. The company will invest Rs 11,000 crore for setting up projects in renewable energy, green hydrogen, and its derivatives in Karnataka for the next two-three years.
These projects are expected to generate around 3,000 jobs in Karnataka. During the MoU signing with the Karnataka government in London, HFEPL stated, “At Hero Future Energies, we recognise that unprecedented environmental challenges demand bold and decisive steps toward the next generation of energy. With 6+ GW of renewable energy portfolio, we are expanding our decarbonisation efforts beyond the grid into hard-to-abate industries such as transportation and heavy engineering manufacturing”.
It further said: “As India emerges into a significant exporter of clean energy, Hero Future Energies is poised to lead this transition, leveraging its expertise and early-mover advantage in green hydrogen and its derivatives to build first of its kind decarbonisation solutions from India to the world. Karnataka, with its progressive policies, abundant renewable resources, and focus on green innovation, provides the perfect environment to realise our vision.”
Also, read: Global AI Conclave: Karnataka’s Clean Mobility Policy to create ecosystem for companies like Tesla
Karnataka Minister for Large and Medium Industries and Infrastructure Development MB Patil said: “Karnataka government will facilitate the requisite permissions, approvals, and incentives to ensure the projects are established in a time-bound manner under the state’s prevailing policies and regulations”.
“This collaboration reinforces Karnataka’s position as a preferred investment destination and demonstrates the state’s leadership in driving green energy solutions and sustainable industrial development” said Patil.
The MoU was formalised during the London roadshow ahead of the Invest Karnataka 2025 Meet. “This underscores Karnataka's commitment to attracting global investments and fostering technological advancements. This initiative forms a key pillar of the state’s comprehensive preparations for the Global Investors Meet, Invest Karnataka 2025, aimed at creating a competitive and digitally advanced industrial ecosystem” said a statement.
Also, read: Global AI Conclave: 80% agreements signed during investors meet will materialise, says MB Patil
Selvakumar S, Principal Secretary, Department of Commerce and Industries, Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Commerce and Industries and Benjamin Paul Fraser, Chief Financial Officer and Company Secretary of Hero Future Energies were present at the event.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
