KKR and the Hero Group have signed a deal to invest $450 million in Hero Future Energies (HFE), the renewable energy arm of the Hero Group. This investment will position HFE for continued growth and support its efforts to expand its renewable energy capacity and capabilities across technologies such as solar, wind, battery storage, and green hydrogen, and into new markets over time.
Founded in 2012, Hero Future Energies is a leading independent power producer (IPP) in India with a diversified portfolio of 1.6 GW of operating solar and wind projects.
Beyond supporting HFE’s growth, this round of investment led by KKR will help accelerate India’s energy transition. It advances the country’s significant effort to expand renewable energy capacity, reduce carbon emissions by 1 billion tons by 2030 and achieve net-zero emissions by 2070, as energy demand continues to grow alongside economic development. Private sector participation, including from global investors, is expected to be a key enabler for India to meet these targets, in lockstep with supportive government policies.1
KKR is making its investment from its Asia Pacific Infrastructure Fund. T
