Hero Future Energies Secures Major SBI Funding for Hybrid Project in Andhra Pradesh

Hero Future Energies, a wing of the Hero Group, has successfully secured Rs 1,024 crore in funding from the State Bank of India for its innovative hybrid project in Andhra Pradesh. The project, located in the Kurnool district, will harness solar, wind, and storage technologies.

The financing, facilitated through Clean Solar Power Barmer, will extend over a 21-year loan repayment period, ensuring the project's timely completion. This backing empowers the development and construction of a robust 60 MW hybrid peak power project.

Hero Future Energies enjoys the support of prominent global investors, including the International Finance Corporation (IFC) and KKR, enhancing its stature in the renewable energy sector.

(With inputs from agencies.)