New Delhi: Hero Future Energies Pvt. Ltd. (HFE) has achieved a major financial milestone with the successful closure of ₹1908 crore (INR 19080 million) in funding from the State Bank of India (lead lender) and Canara Bank. The funds will be deployed through HFE’s Special Purpose Vehicle (SPV), Clean Renewable Energy Hybrid Three Private Limited, for the development of a 120 MW hybrid renewable energy project in Kurnool, Andhra Pradesh.
The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power—positioning it as a model for next-generation clean energy infrastructure. With a repayment period of 21 years, the funding ensures timely execution and commercial operation, reinforcing HFE’s reputation for delivering complex hybrid renewable projects.
This financial closure marks a significant vote of confidence from India’s banking sector in HFE’s technical and operational capabilities. It also reflects the growing institutional support for hybrid renewable models that combine multiple energy sources with storage to ensure grid stability and peak-hour reliability.
Located in the energy-rich district of Kurnool, the 120 MW project is designed to optimize renewable generation by leveraging complementary wind and solar profiles, backed by advanced storage systems. This configuration enables consistent power delivery even during variable weather conditions, making it ideal for meeting peak demand.
Hero Future Energies has been at the forefront of India’s energy transition, with a portfolio spanning solar, wind, and hybrid projects across multiple states. The Kurnool hybrid project is a strategic addition to its clean energy footprint and aligns with national goals to increase renewable capacity while reducing dependence on fossil fuels.
Commenting on the financial closure, HFE stated that the funding reflects the lending community’s continued confidence in its ability to execute technically complex and commercially viable renewable projects. The company emphasized its commitment to building scalable, sustainable energy solutions that contribute meaningfully to India’s decarbonization journey.
The project’s long repayment tenure of 21 years also highlights the evolving financial landscape for renewables, where lenders are increasingly willing to back long-term infrastructure with stable returns. This shift is crucial for accelerating India’s clean energy buildout and achieving its ambitious targets under the National Electricity Plan and COP commitments.
As the project moves into the construction phase, it is expected to generate employment, stimulate local economies, and contribute to Andhra Pradesh’s renewable energy leadership. The integration of storage further enhances its value proposition, offering dispatchable clean power that supports grid reliability and reduces curtailment.
With this funding, Hero Future Energies continues to solidify its position as a key player in India’s renewable energy sector, driving innovation and scale in hybrid energy solutions.
