HFEPL to Invest ₹11,000 Crore in Renewable Energy and Green Hydrogen Projects in Karnataka
Key Ideas
- Hero Future Energies Private Limited (HFEPL) signed an MoU with the Government of Karnataka to invest ₹11,000 crore in Renewable Energy, Green Hydrogen, and its derivatives.
- The projects are expected to create nearly 3,000 jobs in Karnataka over 2-3 years starting in 2025-26.
- The Government of Karnataka will provide necessary support to ensure the timely establishment of these projects under existing policies and regulations.
- This initiative is a significant step towards preparing for the Global Investors Meet, Invest Karnataka 2025, to enhance the industrial ecosystem and attract investments.
Hero Future Energies Private Limited (HFEPL) has entered a Memorandum of Understanding (MoU) with the Government of Karnataka to invest ₹11,000 crore in developing projects related to Renewable Energy, Green Hydrogen, and its derivatives in the state. The proposed projects are set to kick off in 2025-26 and are anticipated to bring about nearly 3,000 job opportunities in Karnataka. Industries Minister M.B. Patil, during the MoU signing ceremony in London, mentioned that the state government will support HFEPL by facilitating necessary permissions, approvals, and incentives to expedite the project implementation within the state's regulatory framework. This agreement aligns with Karnataka's preparations for the Global Investors Meet, Invest Karnataka 2025, which aims to establish a more competitive and technologically advanced industrial landscape to attract global investments and drive economic growth.