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Spotlight: Can KKR-backed Hero Future catch up with green energy giants?

VCCircle

VCCircle · 1y ago

Spotlight: Can KKR-backed Hero Future catch up with green energy giants?

Hero Future Energies (HFE), a renewable energy company backed by the Hero Group, aims to catch up with green energy giants in India's wind and solar power sector. Founded in 2012, HFE initially seemed poised for success, but is facing stiff competition. With the potential to play a crucial role in India's clean energy transition, HFE is focused on expanding its renewable energy portfolio and increasing operational efficiencies. With its backing from KKR, HFE is hopeful to make a significant impact in the renewable energy space.

Related News

Hero Future Energies to rope in JP Morgan for pre-IPO fundraise of $200 mn

Livemint

Livemint · 1y ago

Hero Future Energies to rope in JP Morgan for pre-IPO fundraise of $200 mn

Hero Future Energies, a green energy firm led by Rahul Munjal, is reportedly in talks with JP Morgan for a pre-IPO fundraising round, expected to be valued at around $200 million. This follows the company's recent fundraising efforts of $450 million from Hero Group and KKR. Hero Future Energies has a 3 GW operational and under-construction portfolio across India, Ukraine, and Vietnam. The Indian green energy market has seen significant activity, with multiple deals being pursued by companies seeking to capitalize on the country's renewable energy potential.

KKR-backed Hero Future Energies announces mega investment plan

VCCircle

VCCircle · 11m ago

KKR-backed Hero Future Energies announces mega investment plan

India's Hero Future Energies, backed by KKR and IFC, plans to invest $20 billion over the next six years to increase its renewable energy capacity to 30 GW by 2030. The company already has 1.9 GW installed and expects to commission 3.4 GW under construction within two years. This investment is part of India's efforts to add 500 GW of clean energy by 2030, with other major players in the sector, including Tata Power, Reliance Industries, and Adani Green Energy, also announcing significant investments.

Expect renewable energy sector to see a turnaround: Hero Future Energies’ Srivatsan Iyer

VCCircle

VCCircle · 1y ago

Expect renewable energy sector to see a turnaround: Hero Future Energies’ Srivatsan Iyer

Hero Future Energies (HFE), a green energy company founded in 2012, is expecting a positive shift in the renewable energy sector. While HFE is currently smaller compared to competitors like Adani Green and Renew Power, the company believes that the sector will experience a turnaround. HFE is focused on expanding its presence and tapping into new opportunities in the renewable energy market in India.

Hero Future Energies launches green hydrogen plant in AP for blending with piped & liquefied natural gas

Livemint

Livemint · 5m ago

Hero Future Energies launches green hydrogen plant in AP for blending with piped & liquefied natural gas

Hero Future Energies has inaugurated a green hydrogen plant in Tirupati, Andhra Pradesh, to supply Rockman Industries with a blend of green hydrogen, piped natural gas, and liquefied petroleum gas. This initiative, praised by Chief Minister N. Chandrababu Naidu, aims to reduce industrial emissions, setting a precedent for India’s energy transition. The state’s renewable resources and industrial demand position it as a potential leader in green hydrogen usage across various sectors.

Grapevine: KKR to deploy bulk of infra fund in India, Hero Future eyes pre-IPO funding

VCCircle

VCCircle · 1y ago

Grapevine: KKR to deploy bulk of infra fund in India, Hero Future eyes pre-IPO funding

Global investment firm KKR plans to allocate a substantial portion of its $6.4 billion infrastructure fund towards projects in India. The company aims to diversify its portfolio in sectors including roads and renewables. Meanwhile, Hero Future Energies, a leading renewable energy producer, is looking to raise funds before its planned initial public offering (IPO), to fuel its growth plans in India's booming clean energy sector.

KKR-backed IndiGrid to buy two power assets, taps offshore investor

VCCircle

VCCircle · 2m ago

KKR-backed IndiGrid to buy two power assets, taps offshore investor

IndiGrid, supported by KKR, plans to acquire two operational green energy assets for Rs 2,175 crore ($250 million). This acquisition aligns with IndiGrid’s strategy to expand its portfolio in the power sector. Additionally, the infrastructure investment trust aims to raise up to $55 million (Rs 471 crore) in new debt from a prominent offshore investor. This initiative reflects IndiGrid’s efforts to reinforce its presence and capabilities in renewable energy infrastructure.

Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch

Money Control

Money Control · 11m ago

Retail investors eye shareholder category for better IPO allotment; upcoming issues to watch

The IPO market in India is booming, with numerous companies going public. Retail investors are particularly interested in IPOs that offer a 'shareholder' category, as this increases their chances of getting allotted shares. Some upcoming IPOs that may have a shareholder category include NTPC Green Energy, HDFC Bank's subsidiaries HDB Financial Services and HDFC Credila, Ather Energy, Hero MotoCorp's subsidiaries Ather Energy and Hero Fincorp, SJVN Green Energy, Coal India's subsidiaries Bharat Coking Coal and Central Mine Planning and Design Institute, Asirvad Micro Finance (a subsidiary of Manappuram Finance), Canara Robeco AMC (a subsidiary of Canara Bank), and Belstar Microfinance (a subsidiary of Muthoot Finance).

KKR-backed IndiGrid secures $300 mn funding for new green energy platform

VCCircle

VCCircle · 9m ago

KKR-backed IndiGrid secures $300 mn funding for new green energy platform

KKR-backed IndiGrid has secured $300 million funding from overseas development financiers to establish a green energy platform in India. The funding was provided by British International Investment, Norwegian Climate Investment Fund, and KLP. The new platform, called EnerGrid, will focus on developing greenfield transmission and standalone battery energy storage system projects in India. IndiGrid is the country's first infrastructure investment trust in the power sector and has assets under management of over Rs 29,700 crore. The funding will help IndiGrid create a growth pipeline in the under-construction space and meet India's increasing power demand.

Tata Power weighs listing Mubadala, BlackRock-backed green energy unit

VCCircle

VCCircle · 4m ago

Tata Power weighs listing Mubadala, BlackRock-backed green energy unit

Tata Power Company Ltd is considering the public listing of its green energy arm, backed by Mubadala and BlackRock. This move aligns with the trend among Indian renewable energy companies that are either publicly listed or planning initial public offerings. The objective is to capitalize on the growing interest in renewable energy, with Tata Power taking steps in preparation for the potential IPO of its green energy unit.

CIAL ties up with BPCL to set up green hydrogen plant at airport

Thehindubusinessline

Thehindubusinessline · 1y ago

CIAL ties up with BPCL to set up green hydrogen plant at airport

Cochin International Airport Ltd (CIAL) has partnered with BPCL to establish the world's first green hydrogen plant and fuelling station within an airport setting. The plant will use renewable energy sources to produce green hydrogen, which aligns with zero-carbon energy strategies. CIAL will provide the land, water, and green energy resources, while BPCL will oversee the establishment and operation of the plant. The initial output will be used to power vehicles within the airport. This collaboration emphasizes CIAL's commitment to green energy and moves towards a zero-carbon future in aviation.

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