The main goal of Hero Future Energies, which is backed by the global investors KKR and IFC, is to build a major presence in the market in terms of helping India shift to clean energy. KKR and IFC will be selling some shares in the company, and the Munjal family, who started the company, will sell a large stake in the company.
Incorporated in 2012, Hero Future Energies is one of the leading renewable energy players in India has a 5.2 GW of renewable energy projects in India as well as other countries like the UK, Ukraine, Singapore, Vietnam, and Bangladesh. HFE has over 583 MW of wind power capacity across Rajasthan, Maharashtra, Tamil Nadu, Karnataka, Madhya Pradesh, and Andhra Pradesh. Additionally, it also has over 1,576 MW solar power capacity across Madhya Pradesh, Telangana, Andhra Pradesh, Karnataka, and Rajasthan.
Rahul Munjal said in the report that Hero Future Energies is planning to invest $20 billion in renewable energy by 2030. The investment will be utilized to handle the projects of solar and wind projects.
As for FY24, the company generated an EBITDA of $150 million (around ₹1250 crore), showcasing a stable financial performance despite the fast-changing energy market.
