New Delhi: Hero Future Energies (HFE), the renewable energy arm of the Hero Group, signed a landmark Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to develop 4 GW of renewable energy generation capacity across Ananthapuramu, Kurnool, and Kadapa districts. The proposed investment of ₹15,000 crore reinforces Andhra Pradesh’s emergence as a leading destination for clean energy infrastructure in India.
The MoU was signed by Srivatsan Iyer, Global CEO of Hero Future Energies, in the presence of Andhra Pradesh Chief Minister N. Chandrababu Naidu, Chief Secretary K. Vijayanand, Vice Chairman & MD of NREDCAP Dr M. Kamalakar Babu, CEO of AP Economic Development Board C.M. Saikanth Varma, and Hero Future Energies Founder & CMD Rahul Munjal. The signing took place on the sidelines of the AP Government–CII Partnership Summit in Visakhapatnam.
Under the agreement, HFE will execute the renewable energy projects in two phases, creating over 15,000 direct and indirect jobs. The initiative is expected to catalyze industrial growth, attract ancillary industries, and strengthen Andhra Pradesh’s role in India’s decarbonisation journey.
Commenting on the partnership, Rahul Munjal said, “This marks more than an investment—it’s a step towards redefining how States and private enterprise can jointly drive India’s clean energy transition. Andhra Pradesh’s proactive policy environment and strong infrastructure make it a top priority investment destination.”
Srivatsan Iyer added, “The proposed projects are proving ground for complex renewable ecosystems that combine scale, innovation, and impact. Through this MoU, we are adding 4 GW of green capacity and setting in motion a model of sustainable industrial growth.”
Project Facilitation & Execution
As part of the MoU, Hero Future Energies will leverage its expertise in renewable energy technology, design, and implementation to deliver the projects in a time-bound manner. NREDCAP and APEDB will provide facilitation support, including coordination with relevant departments of the Andhra Pradesh and Union Governments for necessary approvals and clearances. The MoU will remain valid for 12 months from the date of signing, enabling swift commencement of project activities.
Strategic Context
Hero Future Energies is rapidly scaling its integrated clean energy portfolio, which spans solar, wind, hybrid systems, and green hydrogen. The company has recently signed major MoUs including:
- A ₹11,000 crore investment agreement with the Government of Karnataka for renewable and green hydrogen projects.
- ₹1,024 crore financing support from the State Bank of India for a 60 MW hybrid solar-wind-storage project in Andhra Pradesh.
These developments reflect HFE’s strategic pivot toward firm, dispatchable renewable energy and decarbonisation of hard-to-abate sectors. With a growing international footprint across Europe and Southeast Asia, and backing from marquee investors like KKR and the International Finance Corporation (IFC), HFE is driving expansion through technology integration, geographic diversification, and complex project structuring.
Outlook
The Andhra Pradesh MoU marks a significant milestone in HFE’s journey to become a global leader in clean energy. By combining scale with innovation, the company aims to deliver impactful solutions that support India’s energy transition and industrial sustainability goals.
