Business EconomyPosted at: Nov 14 2025 12:53AM


Hero Future Energies inks MoU with AP Govt to develop renewable energy projects in AP

Visakhapatnam, Nov 13 (UNI) Hero Future Energies (HFE), the renewable energy arm of the Hero Group, signed a Memorandum of Understanding (MoU) on Thursday with the Andhra Pradesh Government, to develop renewable energy generation projects with a total capacity of 4 GW across Ananthapuramu, Kurnool, and Kadapa districts of Andhra Pradesh.
The projects represent a proposed investment of Rs 30,000 crore, reinforcing Andhra Pradesh’s position as one of India’s leading renewable energy destinations.
The MoU was signed by Srivatsan Iyer, Global CEO, Hero Future Energies, in the presence of Chief Minister N. Chandrababu Naidu, K. Vijayanand, Chief Secretary, Dr M. Kamalakar Babu, Vice Chairman & MD, NREDCAP,and C.M. Saikanth Varma, CEO, AP Economic Development Board and Mr Rahul Munjal, Founder & CMD, Hero Future Energies here on Thursday n the sidelines of the AP Govt - CII Partnership Summit.
Under the agreement, HFE will establish the renewable energy generation projects in two phases, creating over 15,000 direct and indirect jobs in total.
As part of the MoU, HFE will leverage its expertise in renewable energy technology, design, and implementation to set up the projects in a time-bound manner.
On the occasion, the CM assured HFE Chairman that NREDCAP and APEDB will facilitate necessary assistance to enable project development, including coordination with relevant departments of the Government of Andhra Pradesh and the union Government of India for required approvals and support. In response, Mr. Rahul Munjal informed the Chief Minister that HFE will invest an additional INR 15000 crore in renewable energy projects in the state, taking the total value of the current proposed investments to INR 30,000 crores.
Mr Rahul Munjal, said “ Andhra Pradesh’s proactive policy environment and strong infrastructure make it a top priority investment destination."
Mr Srivatsan Iyer, Global CEO, Hero Future Energies, said " Through this MoU, we are adding 4 GW of green capacity and also setting in motion a model of sustainable industrial growth that generates long-term employment, attracts ancillary industries, and strengthens the AP’s role in India’s decarbonisation journey.”
The MoU will remain valid for a period of 12 months from the date of signing and aims to enable swift project commencement and investment facilitation in the renewable energy sector of Andhra Pradesh.
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