Monday, March 17, 2025 | 01:42 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

IFC picks up $125-million equity stake in Hero Group's renewable energy arm

Hero Future Energies is the renewable energy arm of the Hero Group

cash, protest, currency, demonetisation, black money, ATM, banks, rupee, notes
Premium

Photo: Shutterstock

T E Narasimhan Chennai
IFC, together with IFC Global Infrastructure Fund, a private equity fund managed by IFC Asset Management Company, will invest $125 million in equity, enabling the company to set up 1 GW of greenfield solar and wind plants in the next 12 months across India. 

"Our endeavour is to achieve the new goal of 2.7 GW renewable energy capacity by 2020,” said Rahul Munjal, Chairman & Managing Director, Hero Future Energies. Currently, Hero Future Energies has a presence in 12 states in India with a capacity of over 360 megawatt having solar, wind, and rooftop installations.
 
Sunil Jain, Chief Executive Officer, Hero

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in