Debt Debt financing
Hero Future Energies secures Rs.1,908-Cr from SBI, Canara Bank
Source Hero Future Energies (opens in a new tab)Business Standard (opens in a new tab)
Delhi- and London-based renewable power player Hero Future Energies has secured INR 1,908 crore from State Bank of India and Canara Bank through SPV Clean Renewable Energy Hybrid Three Pvt Ltd, with a repayment period of 21 years.These funds will be used for the development and construction of a 120 MW renewable hybrid project at Kurnool in Andhra Pradesh.Founded in 2013, Hero Future Energies primarily operates wind and solar PV assets. It claims to have a global portfolio of 5 GW of renewable energy assets across India, Ukraine, Bangladesh, Vietnam, and the UK of operating or under-construction projects.
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Between Aug 2016 and Sep 2022, Hero Future Energies had attracted about USD 768 M from IFC, Mubadala Investment, Hero MotoCorp and KKR.For FY25, Hero Future Energies had reported about INR 1,471 Cr in Operating Income and about INR 160 Cr in Net Loss.