Hero Future to invest Rs 110 billion in Karnataka
Author: PPD Team Date: December 2, 2024
Hero Future Energies Private Limited (HFEPL) has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest Rs 110 billion in renewable energy and green hydrogen projects.
The investment will be allocated for establishing renewable energy, green hydrogen, and its derivatives projects in Karnataka over the next two to three years.
The projects are set to commence in 2025-26 and are expected to create over 3,000 jobs.
The Karnataka government will provide necessary approvals, permissions, and incentives to ensure the projects are completed on schedule.
Earlier, in July 2024, HFEPL partnered with Rayzon Solar to launch a 200 MW solar project in Karnataka, aimed at reducing carbon emissions by 350,000 to 375,000 tonnes annually.