KKR has invested in roads and renewables through its Asia funds, deploying a significant portion of its collective $7 billion capital in India
Hero Future Energies is looking to raise around Rs 4,000 crore and CleanMax around Rs 5,000 crore
The Memorandum of Understanding was formalised during the London Roadshows, Patil, who oversees the large and medium industries and infrastructure portfolio, said in a statement.
Hero Future Energies Private Limited (HFEPL) has proposed projects in Karnataka with an investment of Rs 11,000 crore from 2025–26.
Hero Future Energies owns renewable projects in India, Ukraine and Vietnam, and said it expects 3.4 GW worth of capacity may be commissioned in two years.
Hero Future Energies has announced the signing of a strategic tolling agreement with PIXON Green Energy, a leading domestic module manufacturer, for the supply of solar PV modules.
The agreements were signed on the sidelines of the 4th G20 Energy Transition Working Group meeting, which concluded last week in Goa, Hero Future Energies said in a statement.
Regarding the firm's majority stake in Avendus Capital (an investment made in 2015) , Trehan clarified no formal sale process had been launched but at the "right time" , KKR India would be able to offer a stake to someone to take the business forward.
Company is waiting for the government's green hydrogen policy and in the meantime is in active discussions with customers in India and the UK for pilot projects in green hydrogen, says Srivatsan Iyer.
The investment will position HFE for continued growth and to also support its efforts to expand its renewable energy capacity and capabilities across technologies, the two sides said
The investment will largely be a primary infusion to lower the debt and grow the business.
The firm received the orders though its subsidiary Clean Renewable Power (Mauritius) and had priced the first green bond issuance at a coupon rate of 4.25 percent for a six-year maturity period.
Iyer, who will be taking over the charge from Sunil Jain at the end of January 2021, used to work as the Vice President of Strategy & Planning and Innovation & Technology at Braskem in South America.
This is the second strategic funding in HFE since 2017, following the initial USD 125 million investment made by the International Finance Corporation (IFC), part of the World Bank.
IFC is picking up equity stake in the company at an investment of USD 125 million, Chairman and Managing Director of Hero Future Energies, the renewable energy arm of Hero Group, Rahul Munjal told reporters here.
International Finance Corp (IFC) will invest up to USD 125 million in Hero Future Energies, the renewable energy venture of the Hero Group.
The funds would be used for expansion of the wind portfolio, the company said in a statement. The company claimed that it issued India's first certified climate bond to raise Rs 300 crore for expansion of its wind portfolio, through its wind holding entity.
Union Energy Minister Piyush Goyal was addressing a meeting of high level gathering of US companies in the renewable energy development and financing sector, organised by the Confederation of Indian Industry (CII) in partnership with the American Council on a Renewable Energy (ACORE).
The issue comprises a fresh offering of equity shares aggregating up to Rs 700 crore and an offer for sale of up to one crore equity shares, or 5 percent of stake held by Inox Wind promoter Gujarat Fluorochemicals to the extend of Rs 300 crore. The issue will be listed on both exchanges, NSE and BSE.