Amravati, Mar 17 (KNN) The Hero Future Energies has inked an MoU with the Andhra Pradesh government for setting up renewable energy facilities in the state.

Under this agreement, the Hero Future Energies will invest Rs 30,000 crore to develop renewable energy facilities and work closely with the state Government to catalyse economic growth in Andhra Pradesh, an official statement said.

As per reports, the Renewable energy facilities are expected to generate employment for around 10,000 persons in the state. 

The MoU was signed on the side-lines of the Andhra Pradesh Global Investor's Summit 2023 in the in the presence of K Vijayanand, Special Chief Secretary, Department of Energy, Govt of Andhra Pradesh and Arun Tripathi, Head - Energy Business, HFE.

"We are extremely happy to partner with the Government of Andhra Pradesh in their sustainable growth journey. HFE plans to make the most of the conducive policy environment for the renewables sector in Andhra Pradesh and help the state emerge as a leading hub for renewables in the country," Tripathi said. 

Established in 2012, Hero Future Energies is present across multiple states in India, Bangladesh, Vietnam, Singapore, Ukraine and the UK. The company is an independent power producer (IPP) with about 1.6 GW of operating assets across utility and commercial & industrial sectors. 

It plans to invest progressively in grid-connected solar and wind, rooftop sectors, energy storage and green hydrogen over the next few years in India and internationally.  (KNN Bureau)