Hero Future Energies Secures Over Rs 1,900 Crore for Kurnool Hybrid Project

Hero Future Energies has secured Rs 1,908 crore in funding from State Bank of India and Canara Bank for a 120 MW renewable hybrid project in Kurnool, Andhra Pradesh. The project will integrate wind, solar, and storage technologies, with a repayment period of 21 years to ensure timely execution.

Hero Future Energies announced on Monday the acquisition of Rs 1,908 crore in funds from public sector banks State Bank of India and Canara Bank. The financing will support a 120 MW renewable hybrid project in Kurnool, Andhra Pradesh.

The financial package was structured through Special Purpose Vehicle (SPV) Clean Renewable Energy Hybrid Three Private Limited. The project partners with SJVN and combines wind, solar, and battery storage technologies, intending to provide consistent peak power output.

With a generous repayment term of 21 years, the secured funding sets the stage for timely project completion and the start of commercial operations, as outlined by Hero Future Energies in their official statement.

(With inputs from agencies.)