Hero Future Energies Secures ₹1,908 Crore Funding from SBI and Canara Bank for Hybrid Project in Andhra Pradesh

New Delhi, October 7: Renewable energy company Hero Future Energies (HFE) has announced that it has secured ₹1,908 crore in funding from public sector lenders State Bank of India (SBI) and Canara Bank. Hero Future will use the funds to finance the development of a 120 MW renewable hybrid project in Kurnool, Andhra Pradesh. The upcoming project is contracted with SJVN and will integrate wind, solar, and storage technologies to deliver reliable peak power to the grid. This hybrid model is designed to improve efficiency, optimise power generation, and enhance grid stability, and aims to align with India’s broader clean energy transition goals.

Hero Future Energies (HFE) is an Indian company which provides global renewable energy solutions. The company is a part of the Hero Group. It was established in 2012, and is headquartered in London, United Kingdom. The shares of the company are not listed on any of the Indian stock exchanges.

Funding Backed by Leading Public Lenders

According to Hero Future, the funding was raised through its special purpose vehicle (SPV), Clean Renewable Energy Hybrid Three Private Limited, where SBI acted as the lead lender. The facility carries a repayment period of 21 years, allowing the company to ensure long-term stability for project execution and operations.

“The funds will be utilised for the development and construction of our 120 MW hybrid project at Kurnool,” the company said in a statement.

Ensuring Timely Execution

Hero Future Energies stated that the financing package would support timely completion and commercial operations of the project. The initiative reflects the company’s continued focus on innovative renewable solutions combining multiple clean energy sources.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations